Wellington Management Group LLP Purchases 113,422 Shares of CubeSmart (NYSE:CUBE)

Wellington Management Group LLP raised its position in CubeSmart (NYSE:CUBE - Free Report) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 929,707 shares of the real estate investment trust's stock after acquiring an additional 113,422 shares during the period. Wellington Management Group LLP owned about 0.41% of CubeSmart worth $50,046,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in CubeSmart by 19.8% in the 3rd quarter. Quarry LP now owns 1,371 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 227 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of CubeSmart by 3.6% in 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 in the last quarter. HighTower Advisors LLC raised its holdings in shares of CubeSmart by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust's stock worth $1,758,000 after buying an additional 243 shares in the last quarter. Mirador Capital Partners LP raised its holdings in shares of CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust's stock worth $855,000 after buying an additional 248 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of CubeSmart by 4.5% in the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust's stock worth $309,000 after buying an additional 248 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Barclays dropped their target price on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. UBS Group cut CubeSmart from a "buy" rating to a "neutral" rating and increased their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Royal Bank of Canada dropped their target price on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, Evercore ISI increased their target price on CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $51.36.

CubeSmart Price Performance

CUBE stock traded down $0.12 during midday trading on Thursday, reaching $46.52. 531,568 shares of the company's stock traded hands, compared to its average volume of 1,346,591. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 13.17 and a beta of 0.84. 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 company has a 50-day simple moving average of $48.89 and a two-hundred day simple moving average of $48.34. 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 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 earnings per share. On average, analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

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.