1834 Investment Advisors Co. Sells 39,486 Shares of CubeSmart (NYSE:CUBE)

1834 Investment Advisors Co. lowered its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,290 shares of the real estate investment trust's stock after selling 39,486 shares during the quarter. 1834 Investment Advisors Co.'s holdings in CubeSmart were worth $5,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in CubeSmart by 0.9% in the first quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust's stock valued at $1,443,316,000 after acquiring an additional 274,493 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust's stock worth $257,191,000 after purchasing an additional 1,205,097 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of CubeSmart by 14.0% during 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 buying an additional 624,661 shares during the period. Dimensional Fund Advisors LP raised its holdings in CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust's stock valued at $152,652,000 after acquiring an additional 169,600 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position 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 acquiring an additional 303,347 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CUBE. UBS Group lowered CubeSmart from a "buy" rating to a "neutral" rating and increased their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group boosted their target price on shares of CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Raymond James raised their price target on shares of CubeSmart from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Scotiabank assumed coverage on shares of CubeSmart in a report on Thursday, August 22nd. They issued a "sector outperform" rating and a $53.00 price objective for the company. Finally, Truist Financial raised their target price 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CubeSmart has an average rating of "Hold" and an average price target of $51.45.

CubeSmart Trading Down 5.5 %

Shares of CUBE stock traded down $2.72 during trading hours on Wednesday, hitting $46.35. 2,157,281 shares of the company's stock traded hands, compared to its average volume of 1,356,241. The stock has a market cap of $10.48 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 8.77 and a beta of 0.84. CubeSmart has a 12 month low of $35.58 and a 12 month high of $55.14. The stock's 50 day simple moving average is $51.24 and its 200 day simple moving average is $47.24. The company has a quick ratio of 0.03, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $267.49 million. During the same quarter last year, the firm posted $0.68 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current 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.