Charles Schwab Investment Management Inc. Raises Holdings in CubeSmart (NYSE:CUBE)

Charles Schwab Investment Management Inc. grew its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,032,885 shares of the real estate investment trust's stock after acquiring an additional 135,211 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.34% of CubeSmart worth $163,260,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its holdings in CubeSmart by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,871 shares of the real estate investment trust's stock worth $808,000 after purchasing an additional 4,171 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CubeSmart by 26.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust's stock valued at $257,191,000 after purchasing an additional 1,205,097 shares during the period. Janus Henderson Group PLC lifted its position in shares of CubeSmart by 1,575.2% during the first quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust's stock worth $82,277,000 after acquiring an additional 1,711,762 shares in the last quarter. Tidal Investments LLC grew its holdings in CubeSmart by 32.6% during the 1st quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust's stock valued at $4,040,000 after buying an additional 21,967 shares in the last quarter. Finally, Invst LLC purchased a new stake in CubeSmart in the 1st quarter worth approximately $715,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CUBE shares. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Royal Bank of Canada lowered their price target on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a report on Monday. UBS Group cut CubeSmart from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Truist Financial upped their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $51.36.

CubeSmart Trading Up 2.0 %

CUBE traded up $0.96 on Monday, hitting $49.87. The company had a trading volume of 2,062,279 shares, compared to its average volume of 1,351,809. CubeSmart has a 1 year low of $38.31 and a 1 year high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market cap of $11.28 billion, a P/E ratio of 28.58, a PEG ratio of 13.73 and a beta of 0.84. The company's fifty day moving average price is $50.21 and its 200 day moving average price is $47.86.

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