In a report released today, Juan C. Sanabria from BMO Capital upgraded Cubesmart (CUBE) to Buy, with a price target of $47.00. The company’s shares closed last Thursday at $41.85, close to its 52-week high of $43.11.
According to TipRanks.com, Sanabria is a 2-star analyst with an average return of 2.2% and a 54.8% success rate. Sanabria covers the Financial sector, focusing on stocks such as Retail Opportunity Investments, National Storage Affiliates, and National Health Investors.
The word on The Street in general, suggests a Hold analyst consensus rating for Cubesmart with a $42.60 average price target, implying a 4.5% upside from current levels. In a report issued on April 30, Stifel Nicolaus also maintained a Buy rating on the stock with a $48.00 price target.
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Cubesmart’s market cap is currently $8.22B and has a P/E ratio of 47.70. The company has a Price to Book ratio of 4.45.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CUBE in relation to earlier this year.
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CubeSmart is a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.