The stock of CubeSmart (NYSE:CUBE) increased by $0.52 on Tuesday to finish at $42.22, up 1.25 percent. The last five days have seen an average of 1,609,720 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $1.97. The average number of shares traded over the last 20 days was 1,720,640, while the average volume over the last 50 days totaled 1,574,406.
CUBE stock dropped -2.63% since last month. On 08/04/23, the company’s shares reached a one-month low of $40.02. The stock touched a high of $48.93 on 04/12/23, after rallying from a low of $36.82 in 52 weeks. The price of CUBE stock has risen by 4.89% or $1.97 this year, reaching a new high 15 times. Still, the stock price is down -13.71% from the 52-week high.
Insider Transactions
CUBE stock investors should be aware that CubeSmart (CUBE) stock had its last reported insider trading activity 84 days ago on Jun 07. On Jun 07, CEO MARR CHRISTOPHER P sold 22,057 shares at $45.41 each. This transaction resulted in the insider making $1,001,580. On Jun 05, MARR CHRISTOPHER P sold 16,948 shares at a price of US$45.10. After the transaction, the insider now owns 480,960 shares. CLO & Secretary Foster Jeffrey P had earlier sold 15,000 shares on Jun 05 for $45.05 a share. The transaction was completed for $675,750.
Valuation Metrics
CubeSmart (CUBE) has a trailing price-to-earnings (P/E) ratio of 24.46. Beta for the stock is 0.60. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 9.07, the price-to-book (PB) ratio of 3.40, and the price-to-cash flow ratio of 17.65.
Company paid $0.49 per share in dividends, remained unchanged from $0.49 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.08, and the total debt to equity ratio is 1.08. As far as profitability goes, gross margin for the trailing twelve months is 71.60% percent. CubeSmart’s operating margin stood at 42.30% for the same period. Based on annual data, it had gross profit of $351.13 million and revenue of $1.01 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CUBE’s return on assets (ROA) during the last 12 months has been 6.20%. There was a 5.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.80%.
Earnings Surprise
According to CubeSmart’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $260.81 million, while revenues rose by 4.66% to $256.53 million. It was predicted that CubeSmart’s quarterly earnings would be $0.43, but it ended up being $0.42, beating the consensus by 2.40%. EBITDA was $172.7 million for the quarter. At the end of CubeSmart’s most recent quarter ended June 29, its total debt was $3.03 billion. Equity owned by shareholders amounts to $224.81 million.
Technical Picture
Here’s a quick look at CubeSmart’s (CUBE) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 54.37%, suggesting the stock is Neutral, with a 16.23% historical volatility rate.
The stochastic %K and %D were 67.99% and 58.92% respectively, while the average true range (ATR) was 0.83. Based on the 14-day stochastic reading of 87.29%, the RSI (14) reading is 48.82%. On the 9-day MACD Oscillator, the stock is at 0.33, and the 14-day reading is at 0.21.
Analyst Ratings
In its analyst report released on June 15, 2023, Wells Fargo began covering CubeSmart (NYSE: CUBE). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned CubeSmart (CUBE) an Overweight rating. CUBE is a stock that is recommended for selling by 0 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 5 others recommend it as a buy.
What is CUBE’s price target for the next 12 months?
The current consensus forecast for the stock is between $44.00 and $54.00, with a median target price of $48.00. In analyzing these forecasts, the average price target given by analysts for CubeSmart (CUBE) is $48.36.
