Fintel reports that on September 13, 2023, Stifel reiterated coverage of CubeSmart (NYSE:CUBE) with a Buy recommendation.
Analyst Price Forecast Suggests 21.48% Upside
As of August 31, 2023, the average one-year price target for CubeSmart is 49.37. The forecasts range from a low of 44.44 to a high of $56.70. The average price target represents an increase of 21.48% from its latest reported closing price of 40.64.
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The projected annual revenue for CubeSmart is 1,101MM, an increase of 5.50%. The projected annual non-GAAP EPS is 1.30.
What is the Fund Sentiment?
There are 917 funds or institutions reporting positions in CubeSmart. This is a decrease of 16 owner(s) or 1.71% in the last quarter. Average portfolio weight of all funds dedicated to CUBE is 0.43%, a decrease of 7.58%. Total shares owned by institutions decreased in the last three months by 6.57% to 255,526K shares. 
The put/call ratio of CUBE is 5.19, indicating a bearish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,869K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 10,011K shares, representing a decrease of 1.43%. The firm increased its portfolio allocation in CUBE by 8.53% over the last quarter.
Principal Financial Group holds 8,753K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 11,435K shares, representing a decrease of 30.64%. The firm decreased its portfolio allocation in CUBE by 31.49% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,997K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 6,946K shares, representing an increase of 0.73%. The firm decreased its portfolio allocation in CUBE by 10.19% over the last quarter.
Jpmorgan Chase holds 6,845K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 5,545K shares, representing an increase of 18.99%. The firm increased its portfolio allocation in CUBE by 747.33% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 6,815K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 6,928K shares, representing a decrease of 1.65%. The firm decreased its portfolio allocation in CUBE by 8.95% over the last quarter.
CubeSmart Background Information
(This description is provided by the company.)
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,238 self-storage properties across the United States. According to the 2020 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S.
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