CubeSmart (CUBE): Price Target and June Short Interest Disclosure

CubeSmart (CUBE) : 10 Wall Street analysts covering CubeSmart (CUBE) believe that the average level the stock could reach for the short term is $34.85. The maximum price target given is $37 and the minimum target for short term is around $33, hence the standard deviation is calculated at $1.16.

CubeSmart (CUBE) encountered a drop of 35.5% or -2,676,673 shares in the short positions. The number dropped from 7,532,478 on June 15,2016 to 4,855,805 on June 30,2016. The final interest is 2.7% of the floated stock. The days to cover figure of 1 can be arrived using the average daily exchange of 3,761,736 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, DA Davidson initiates coverage on CubeSmart (NYSE:CUBE). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at DA Davidson announces a current price target of $35 per share. The rating by the firm was issued on June 24, 2016.


CubeSmart (NYSE:CUBE): On Thursdays trading session , Opening price of the stock was $31.77 with an intraday high of $31.94. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $31.145. However, the stock managed to close at $31.18, a loss of 2.26% for the day. On the previous day, the stock had closed at $31.9. The total traded volume of the day was 2,251,359 shares.

CubeSmart is a self-administered and self-managed real estate company focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States. The Companys self-storage facilities offer storage space for its residential and commercial customers with features, such as wide aisles and loadbearing capabilities for large truck access. As of December 31, 2014, the Company owned 421 self-storage facilities located in 22 states of the United States and in the District of Columbia containing an aggregate of approximately 28.6 million rentable square feet. As of December 31, 2014, the Company managed 174 facilities for third parties (including 35 facilities containing an aggregate of approximately 2.4 million rentable square feet as part of an unconsolidated real estate venture in which it owns a 50% interest).

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