Geode Capital Management LLC lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,593,010 shares of the real estate investment trust's stock after buying an additional 50,340 shares during the period. Geode Capital Management LLC owned about 2.03% of CubeSmart worth $247,295,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of CubeSmart by 12.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,520 shares of the real estate investment trust's stock valued at $837,000 after acquiring an additional 2,054 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of CubeSmart by 4.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 632,893 shares of the real estate investment trust's stock valued at $28,588,000 after purchasing an additional 27,376 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of CubeSmart by 136.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,129 shares of the real estate investment trust's stock worth $638,000 after purchasing an additional 8,149 shares during the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of CubeSmart by 10.3% during the second quarter. Pallas Capital Advisors LLC now owns 39,253 shares of the real estate investment trust's stock worth $1,901,000 after purchasing an additional 3,653 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of CubeSmart by 14.7% in the second quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust's stock valued at $110,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.
CubeSmart Trading Down 0.4 %
CubeSmart stock traded down $0.17 during trading hours on Friday, reaching $46.27. 1,024,402 shares of the company's stock were exchanged, compared to its average volume of 1,154,002. The firm's 50 day simple moving average is $48.67 and its 200 day simple moving average is $48.46. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $10.46 billion, a PE ratio of 26.14, a PEG ratio of 13.00 and a beta of 0.84.
CubeSmart (NYSE:CUBE - Get Free Report) last released its 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 business had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period in the prior year, the business earned $0.68 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that CubeSmart will post 2.63 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on CUBE shares. UBS Group downgraded shares of CubeSmart from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Scotiabank reduced their price objective on shares of CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. Barclays lowered their target price on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $51.36.
Read Our Latest Analysis on CubeSmart
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.
See Also
Before you consider CubeSmart, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CubeSmart wasn't on the list.
While CubeSmart currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
