CubeSmart (NYSE:CUBE) Shares Bought by Decatur Capital Management Inc.

Decatur Capital Management Inc. boosted its stake in CubeSmart (NYSE:CUBE - Free Report) by 169.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,194 shares of the real estate investment trust's stock after buying an additional 50,484 shares during the period. CubeSmart makes up approximately 2.0% of Decatur Capital Management Inc.'s portfolio, making the stock its 12th biggest position. Decatur Capital Management Inc.'s holdings in CubeSmart were worth $4,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Whittier Trust Co. raised its holdings in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 323 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of CubeSmart during the 3rd quarter worth $33,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of CubeSmart during the second quarter worth $33,000. Finally, Brooklyn Investment Group purchased a new position in shares of CubeSmart in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group downgraded shares of CubeSmart from a "buy" rating to a "neutral" rating and upped their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group raised their target price on CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. 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 increased their price objective on shares of 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 raised their price target on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report 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's stock. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of "Hold" and an average target price of $51.36.

CubeSmart Trading Down 0.4 %

Shares of NYSE:CUBE traded down $0.17 during trading on Friday, reaching $46.27. 1,024,316 shares of the stock were exchanged, compared to its average volume of 1,348,657. The firm's 50-day moving average price is $48.77 and its 200 day moving average price is $48.32. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 13.10 and a beta of 0.84. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (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 analysts' expectations of $267.49 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. CubeSmart's quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart 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.