Stifel Financial Corp Purchases 35,074 Shares of CubeSmart (NYSE:CUBE)

Stifel Financial Corp grew its position in shares of CubeSmart (NYSE:CUBE) by 42.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,528 shares of the real estate investment trust’s stock after acquiring an additional 35,074 shares during the quarter. Stifel Financial Corp owned about 0.05% of CubeSmart worth $6,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CubeSmart by 326.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock valued at $90,229,000 after acquiring an additional 1,282,995 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after buying an additional 624,661 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in CubeSmart by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after buying an additional 303,347 shares in the last quarter. Sei Investments Co. grew its holdings in CubeSmart by 38.2% during the second quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock worth $34,427,000 after buying an additional 210,871 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in CubeSmart by 46.6% during the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock worth $29,406,000 after buying an additional 173,683 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several recent research reports. Wells Fargo & Company upped their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada decreased their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Scotiabank cut their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Barclays dropped their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and upped their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CubeSmart has a consensus rating of “Hold” and an average price target of $51.36.

CubeSmart Stock Performance

Shares of CUBE opened at $46.27 on Friday. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 13.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The stock’s 50-day simple moving average is $48.67 and its 200 day simple moving average is $48.35. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last announced 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 business had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Company 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.