B. Metzler seel. Sohn & Co. Holding AG Acquires New Position in CubeSmart (NYSE:CUBE)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in CubeSmart (NYSE:CUBE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 70,771 shares of the real estate investment trust's stock, valued at approximately $3,810,000.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position 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 worth $358,000 after buying an additional 233 shares in the last quarter. Mirador Capital Partners LP lifted its stake in CubeSmart by 1.6% in the third quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust's stock worth $855,000 after acquiring an additional 248 shares during the last quarter. Presima Securities ULC increased its position in shares of CubeSmart by 2.9% in the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust's stock valued at $571,000 after purchasing an additional 300 shares during the last quarter. Fifth Third Bancorp increased its position in shares of CubeSmart by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust's stock valued at $110,000 after purchasing an additional 311 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 323 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Down 1.3 %

NYSE CUBE opened at $48.34 on Thursday. CubeSmart has a one year low of $38.29 and a one year high of $55.14. The firm has a market cap of $10.93 billion, a PE ratio of 27.31, a P/E/G ratio of 13.75 and a beta of 0.84. The firm's fifty day moving average is $50.42 and its two-hundred day moving average is $47.73. 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 (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (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 during the quarter, compared to analyst estimates of $267.49 million. During the same quarter last year, the firm earned $0.68 EPS. The business's revenue was up 1.1% on a year-over-year basis. Analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. UBS Group cut CubeSmart from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Barclays dropped their price target on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Truist Financial boosted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company increased their target price on shares of CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. 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 stock. According to MarketBeat, CubeSmart has a consensus rating of "Hold" and an average price target of $51.45.

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.