CubeSmart (NYSE:CUBE) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its holdings in CubeSmart (NYSE:CUBE - Free Report) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,039,461 shares of the real estate investment trust's stock after selling 535,712 shares during the quarter. Janus Henderson Group PLC owned 0.46% of CubeSmart worth $55,944,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted 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 purchasing an additional 323 shares during the last quarter. UMB Bank n.a. raised its position in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 444 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of CubeSmart in the second quarter worth about $33,000. Peterson Financial Group Inc. acquired a new position in shares of CubeSmart in the third quarter worth about $33,000. Finally, Quarry LP raised its position in shares of CubeSmart by 195.6% in the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 757 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

CUBE traded down $0.08 on Friday, reaching $47.45. The company had a trading volume of 1,520,787 shares, compared to its average volume of 1,352,245. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The stock has a market capitalization of $10.73 billion, a PE ratio of 26.85, a P/E/G ratio of 13.47 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 stock has a 50-day moving average price of $49.36 and a 200-day moving average price of $48.18.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. UBS Group cut shares of CubeSmart from a "buy" rating to a "neutral" rating and increased their price target for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Evercore ISI increased their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, Truist Financial increased their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.