Lindenwold Advisors INC Purchases 430 Shares of CubeSmart (NYSE:CUBE)

Lindenwold Advisors INC raised its holdings in shares of CubeSmart (NYSE:CUBE) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,580 shares of the real estate investment trust’s stock after acquiring an additional 430 shares during the period. Lindenwold Advisors INC’s holdings in CubeSmart were worth $300,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Peterson Financial Group Inc. bought a new position in shares of CubeSmart during the 3rd quarter valued at $33,000. Natixis Advisors LLC lifted its stake in CubeSmart by 4.6% in the third quarter. Natixis Advisors LLC now owns 71,126 shares of the real estate investment trust’s stock worth $3,829,000 after purchasing an additional 3,131 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its position in CubeSmart by 8.4% during the third quarter. Cornercap Investment Counsel Inc. now owns 15,209 shares of the real estate investment trust’s stock valued at $819,000 after buying an additional 1,180 shares during the period. CIBC Asset Management Inc grew its stake in shares of CubeSmart by 3.6% during the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 233 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of CubeSmart by 29.8% in the third quarter. Metis Global Partners LLC now owns 23,178 shares of the real estate investment trust’s stock worth $1,248,000 after buying an additional 5,324 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $48.63 on Tuesday. CubeSmart has a 1 year low of $38.29 and a 1 year high of $55.14. The stock has a market capitalization of $11.00 billion, a P/E ratio of 27.47, a P/E/G ratio of 13.57 and a beta of 0.84. The company’s 50-day moving average is $50.61 and its 200 day moving average is $47.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CUBE shares. Raymond James increased their target price on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Barclays cut their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Evercore ISI increased their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial raised their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.45.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.