CubeSmart (NYSE:CUBE) finished Wednesday with an addition of $0.04 to close at $38.50, an upside of 0.10 percent. An average of 1,210,560 shares of common stock have been traded in the last five days. There was a fall of -$1.80 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 1,575,065 shares traded, while the 50-day average volume stands at 1,643,730.
CUBE stock has decreased by -7.67% in the last month. The company shares reached their 1-month lowest point of $38.11 on 09/27/23. With the stock rallying to its 52-week high on 04/12/23, shares of the company touched a low of $36.82 and a high of $48.93 in 52 weeks. It has reached a new high 15 times so far this year and lost -4.35% or -$1.75 in price. In spite of this, the price is down -21.32% from the 52-week high.
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Insider Transactions
CUBE stock investors should be aware that CubeSmart (CUBE) stock had its last reported insider trading activity 113 days ago on Jun 07. In this transaction, the insider spent $1,001,580. CEO, MARR CHRISTOPHER P, disposed of 16,948 shares at a price of $45.10 on Jun 05. The insider now owns more than $764,397 worth of shares. Prior to that, CLO & Secretary Foster Jeffrey P went on to Sale 15,000 shares at $45.05 each on Jun 05. An amount of $675,750 was transacted.
Valuation Metrics
CubeSmart (CUBE) has a trailing price-to-earnings (P/E) ratio of 22.31. The stock’s beta is 0.61. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 8.32, the price-to-book (PB) ratio at 3.09, and the price-to-cash flow ratio at 13.97.
Financial Health
Further, the company has a long term debt to equity ratio of 1.06 and a total debt to equity ratio of 1.08 for the quarter ending June 29. Its gross profit as reported stood at $351.13 million compared to revenue of $1.01 billion.
Earnings Surprise
For the three-month period that ended June 29, CubeSmart had $130.07 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $97.88 million in the quarter, while revenues of $97.57 million were grew 40.38%. The analyst consensus anticipated CubeSmart’s latest quarter earnings to come in at $0.42 per share, but it turned out to be $0.43, a 2.40% surprise. For the quarter, EBITDA amounted to $172.7 million. At the end of the quarter ending June 29, CubeSmart’s stock balance sheet showed total debt was $3.03 billion. Shareholders own equity worth $224.81 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at CubeSmart (CUBE) price momentum. RSI 9-day as of the close on 27 September was 25.28%, suggesting the stock is oversold, with historical volatility in this time frame at 19.14%.
As of today, CUBE’s price is $38.64 -4.47% or -$1.80 from its 5-day moving average. CUBE is currently trading -8.81% lower than its 20-day SMA and -14.44% lower than its 100-day SMA. However, the stock’s current price level is -15.53% below the SMA50 and -9.90% below the SMA200.
The stochastic %K and %D were 11.34% and 7.98%, respectively, and the average true range (ATR) was 0.76. With the 14-day stochastic at 12.30% and the average true range at 0.78, the RSI (14) stands at 30.04%. The stock has reached -0.97 on the 9-day MACD Oscillator while the 14-day reading was at -1.35.
Analyst Ratings
Wells Fargo launched coverage on CubeSmart (NYSE: CUBE) in its analyst report released on June 15, 2023. The firm assigned the stock an Overweight rating. The consensus rating for CubeSmart (CUBE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CUBE, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 5 others rate it as a “buy”.
What is CUBE’s price target for the next 12 months?
Analysts predict a range of price targets between $44.00 and $54.00, with a median target of $46.00. Taking a look at these predictions, the average price target given by analysts for CubeSmart (CUBE) stock is $47.55.
