Duff & Phelps Investment Management Co. Increases Position in CubeSmart (NYSE:CUBE)

Duff & Phelps Investment Management Co. boosted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,201,129 shares of the real estate investment trust's stock after acquiring an additional 42,994 shares during the quarter. CubeSmart comprises about 1.4% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 23rd biggest holding. Duff & Phelps Investment Management Co. owned 0.97% of CubeSmart worth $118,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Whittier Trust Co. boosted its holdings in CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 323 shares during the period. UMB Bank n.a. increased its position in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 444 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in CubeSmart during the third quarter worth about $33,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart during the second quarter worth $33,000. Finally, Brooklyn Investment Group bought a new stake in CubeSmart during the 3rd quarter worth about $59,000. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Trading Up 0.2 %

NYSE:CUBE traded up $0.09 during midday trading on Monday, reaching $47.57. 1,066,902 shares of the stock traded hands, compared to its average volume of 1,351,041. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a fifty day moving average of $49.25 and a 200 day moving average of $48.28. The stock has a market capitalization of $10.76 billion, a P/E ratio of 26.83, a PEG ratio of 13.34 and a beta of 0.84. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14.

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). The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current year.

Analysts Set New Price Targets

CUBE has been the subject of a number of recent analyst reports. Barclays dropped their price objective on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, October 28th. Evercore ISI raised their price objective on CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Royal Bank of Canada cut their price objective on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. UBS Group lowered CubeSmart from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Finally, Scotiabank reduced their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a report on Monday, November 25th. One investment 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. According to data from MarketBeat, CubeSmart has a consensus rating of "Hold" and an average target price of $51.36.

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.