CubeSmart (NYSE:CUBE) Stake Lowered by Invst LLC

Invst LLC lowered its position in shares of CubeSmart (NYSE:CUBE) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,936 shares of the real estate investment trust’s stock after selling 217 shares during the period. Invst LLC’s holdings in CubeSmart were worth $804,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of CubeSmart by 14.0% in the 3rd 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 acquiring an additional 624,661 shares during the period. Geode Capital Management LLC increased its stake in CubeSmart by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after purchasing an additional 50,340 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CubeSmart by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after buying an additional 169,600 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of CubeSmart by 12.5% in 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 during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CUBE shares. Wells Fargo & Company increased their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Scotiabank reduced their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Barclays decreased their price objective on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $54.00 in a report on Friday, September 13th. Finally, Royal Bank of Canada dropped their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.36.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $46.90 on Wednesday. The business’s 50-day simple moving average is $49.00 and its 200-day simple moving average is $48.35. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 13.34 and a beta of 0.84.

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

About CubeSmart

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.