BNP Paribas Financial Markets grew its position in CubeSmart (NYSE:CUBE - Free Report) by 32.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,472 shares of the real estate investment trust's stock after acquiring an additional 39,270 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of CubeSmart worth $8,531,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CUBE. Whittier Trust Co. boosted its stake in 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 during the last quarter. UMB Bank n.a. boosted its position 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 acquiring an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in CubeSmart during the 2nd quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in CubeSmart in the 3rd quarter valued at about $33,000. Finally, Quarry LP lifted its stake in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 757 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CUBE has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Barclays cut their price objective on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. UBS Group lowered shares of CubeSmart from a "buy" rating to a "neutral" rating and boosted their target price for the company from $53.00 to $54.00 in a report on Friday, September 13th. Jefferies Financial Group raised their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of "Hold" and a consensus price target of $51.36.
Check Out Our Latest Stock Analysis on CubeSmart
CubeSmart Trading Down 1.6 %
CUBE traded down $0.79 during mid-day trading on Tuesday, hitting $48.45. 605,583 shares of the stock were exchanged, compared to its average volume of 1,349,131. 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 company has a market cap of $10.96 billion, a PE ratio of 27.51, a PEG ratio of 13.91 and a beta of 0.84. The firm's fifty day moving average is $49.70 and its two-hundred day moving average is $48.16. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.
CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share 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 analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.
About CubeSmart
(
Free Report)
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.
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