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Cubesmart (CUBE) Gets a Buy Rating from Evercore ISI

Evercore ISI analyst Steve Sakwa maintained a Buy rating on Cubesmart (CUBEResearch Report) yesterday and set a price target of $58.00. The company’s shares closed last Friday at $49.73.

According to TipRanks.com, Sakwa is a 3-star analyst with an average return of 2.4% and a 58.0% success rate. Sakwa covers the Financial sector, focusing on stocks such as Corporate Office Properties, Healthpeak Properties, and Eastgroup Properties.

Cubesmart has an analyst consensus of Moderate Buy, with a price target consensus of $60.71, implying a 25.0% upside from current levels. In a report issued on February 24, BMO Capital also maintained a Buy rating on the stock with a $63.00 price target.

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Based on Cubesmart’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $213 million and net profit of $87.65 million. In comparison, last year the company earned revenue of $173 million and had a net profit of $46.89 million.

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CubeSmart is a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.

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