Centiva Capital LP Buys New Holdings in CubeSmart (NYSE:CUBE)

Centiva Capital LP purchased a new stake in CubeSmart (NYSE:CUBE - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,345 shares of the real estate investment trust's stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Whittier Trust Co. boosted its position in shares of CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. boosted its holdings in CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock worth $32,000 after buying an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CubeSmart during the second quarter worth about $33,000. Peterson Financial Group Inc. purchased a new position in CubeSmart in the third quarter valued at about $33,000. Finally, Quarry LP lifted its position in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 757 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank reduced their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a report on Monday, November 25th. Barclays decreased their price objective on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company lifted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Truist Financial increased their price target on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, August 16th. Finally, UBS Group downgraded CubeSmart from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.36.

CubeSmart Trading Down 0.1 %

CUBE stock traded down $0.05 during midday trading on Friday, hitting $47.48. The stock had a trading volume of 1,520,808 shares, compared to its average volume of 1,170,213. The company's 50-day moving average price is $49.25 and its 200 day moving average price is $48.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market cap of $10.74 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 13.34 and a beta of 0.84. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. On average, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.