CubeSmart (NYSE:CUBE) stock is expected to deviate a maximum of $1.31 from the average target price of $34.81 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $37 and the most muted being $33.
Other Equity analysts have also commented on the company shares. Equity Analysts at the Citigroup maintains the rating on CubeSmart (NYSE:CUBE). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency raises the price target from $30 per share to $32 per share. The rating by the firm was issued on May 12, 2016.
CubeSmart (NYSE:CUBE): On Thursdays trading session , Opening price of the stock was $30.1 with an intraday high of $30.28. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $29.515. However, the stock managed to close at $29.59, a loss of 0.50% for the day. On the previous day, the stock had closed at $29.74. The total traded volume of the day was 2,188,509 shares.
The company shares have rallied 27.69% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $33.52 and the one year low was seen on Jun 29, 2015. The 50-Day Moving Average price is $31.06 and the 200 Day Moving Average price is recorded at $30.90. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (CFO) of Cubesmart, Martin Timothy M had sold 110,046 shares worth of $2,886,507 in a transaction dated August 10, 2015. In this transaction, 110,046 shares were sold at $26.23 per share.
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).