Copeland Capital Management LLC Has $31.28 Million Stock Position in CubeSmart (NYSE:CUBE)

Copeland Capital Management LLC lifted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,158 shares of the real estate investment trust's stock after buying an additional 11,521 shares during the quarter. Copeland Capital Management LLC owned approximately 0.26% of CubeSmart worth $31,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust's stock valued at $273,986,000 after buying an additional 624,661 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of CubeSmart during the 3rd quarter valued at approximately $375,000. Howard Capital Management Group LLC acquired a new stake in shares of CubeSmart during the 3rd quarter valued at approximately $212,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in CubeSmart by 4.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,961 shares of the real estate investment trust's stock worth $2,259,000 after purchasing an additional 1,705 shares during the last quarter. Finally, Presima Securities ULC increased its stake in CubeSmart by 2.9% during the third quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust's stock valued at $571,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group downgraded shares of CubeSmart from a "buy" rating to a "neutral" rating and raised their price target for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Scotiabank started coverage on CubeSmart in a report on Thursday, August 22nd. They set a "sector outperform" rating and a $53.00 target price for the company. Truist Financial raised their price target on CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, August 16th. Raymond James upped their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada assumed coverage on CubeSmart in a research report on Tuesday, September 10th. They issued an "outperform" rating and a $56.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $50.67.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the sale, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jeffrey P. Foster sold 7,739 shares of CubeSmart stock in a transaction on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now owns 182,460 shares of the company's stock, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joel D. Keaton sold 43,478 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the sale, the chief operating officer now owns 87,663 shares of the company's stock, valued at $4,205,194.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock valued at $4,244,344 in the last three months. 1.68% of the stock is currently owned by company insiders.

CubeSmart Price Performance

Shares of NYSE CUBE traded up $0.08 during mid-day trading on Tuesday, reaching $48.50. 1,040,924 shares of the company traded hands, compared to its average volume of 1,351,170. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $55.14. The firm has a market cap of $10.91 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 9.12 and a beta of 0.82. The stock has a fifty day simple moving average of $51.58 and a 200-day simple moving average of $46.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post 2.65 EPS for the current fiscal 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.