Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in CubeSmart (NYSE:CUBE)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 1,980.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,000 shares of the real estate investment trust's stock after buying an additional 49,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in CubeSmart were worth $2,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its holdings in shares of CubeSmart by 3.6% during the 3rd 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 during the last quarter. Mirador Capital Partners LP raised its position 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 valued at $855,000 after purchasing an additional 248 shares during the period. Presima Securities ULC lifted its stake 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 grew its holdings in shares of CubeSmart by 14.7% during the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust's stock worth $110,000 after purchasing an additional 311 shares during the period. Finally, Whittier Trust Co. increased 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 during the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Down 1.2 %

Shares of CubeSmart stock traded down $0.58 on Friday, reaching $49.56. 1,119,716 shares of the company were exchanged, compared to its average volume of 1,335,767. The stock's 50 day moving average price is $49.79 and its 200-day moving average price is $48.09. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.52 and a 1-year high of $55.14. The company has a market cap of $11.21 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 13.91 and a beta of 0.84.

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

Analyst Ratings Changes

A number of research firms have commented on CUBE. UBS Group cut shares of CubeSmart from a "buy" rating to a "neutral" rating and upped their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Royal Bank of Canada dropped their target price 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. Scotiabank decreased their price target on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. Truist Financial lifted their price objective on CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. One equities 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $51.36.

CubeSmart Company 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.