CubeSmart (CUBE) has been under a strong bear grip, hence the stock is down -8.92% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.6% in the past 1 week. The stock has risen by 1.66% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.98% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 4.13% and the 50-Day Moving Average is 6.09%. CubeSmart (NYSE:CUBE): stock turned positive on Friday. Though the stock opened at $28.14, the bulls momentum made the stock top out at $28.98 level for the day. The stock recorded a low of $28.11 and closed the trading day at $28.24, in the green by 0.46%. The total traded volume for the day was 1,658,303. The stock had closed at $28.11 in the previous days trading.
The company Insiders own 1.13% of CubeSmart shares according to the proxy statements. Also, Jefferies maintains its rating on CubeSmart (NYSE:CUBE). The global brokerage major lowers the current price target from $39 per share to $37 per share. Analysts at the Jefferies have a current rating of Buy on the shares. The rating by the firm was issued on August 10, 2016.
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).