Chiron Investment Management LLC Acquires Shares of 11,472 CubeSmart (NYSE:CUBE)

Chiron Investment Management LLC purchased a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,472 shares of the real estate investment trust's stock, valued at approximately $618,000.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. lifted its stake 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 valued at $25,000 after buying an additional 323 shares in the last quarter. UMB Bank n.a. lifted its stake in CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in CubeSmart in the 2nd quarter valued at $33,000. Peterson Financial Group Inc. bought a new position in CubeSmart in the 3rd quarter valued at $33,000. Finally, Quarry LP boosted its holdings in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 757 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CUBE has been the subject of several analyst reports. Scotiabank cut their price target on shares of CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a report on Monday, November 25th. Wells Fargo & Company raised their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Royal Bank of Canada cut their price target on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Truist Financial raised their price target on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a report on Friday, August 16th. Finally, UBS Group downgraded shares of CubeSmart from a "buy" rating to a "neutral" rating and raised their price target for the company from $53.00 to $54.00 in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus price target of $51.36.

CubeSmart Price Performance

Shares of CubeSmart stock traded down $0.59 on Wednesday, hitting $46.28. 595,140 shares of the company traded hands, compared to its average volume of 1,346,418. The company has a market cap of $10.47 billion, a P/E ratio of 26.50, a P/E/G ratio of 13.34 and a beta of 0.84. The firm's 50-day simple moving average is $49.00 and its 200 day simple moving average is $48.35. CubeSmart has a 12-month low of $39.80 and a 12-month 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.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its 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). The business had revenue of $270.90 million during the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.68 EPS. 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.