Stifel Financial Corp Purchases 35,074 Shares of CubeSmart (NYSE:CUBE)

Stifel Financial Corp raised its holdings in CubeSmart (NYSE:CUBE - Free Report) by 42.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 117,528 shares of the real estate investment trust's stock after acquiring an additional 35,074 shares during the quarter. Stifel Financial Corp owned approximately 0.05% of CubeSmart worth $6,327,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust's stock valued at $90,229,000 after purchasing an additional 1,282,995 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of CubeSmart by 14.0% in the 3rd 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust's stock valued at $123,234,000 after buying an additional 303,347 shares during the period. Sei Investments Co. raised its position in shares of CubeSmart by 38.2% during the second quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust's stock worth $34,427,000 after acquiring an additional 210,871 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of CubeSmart by 46.6% during the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust's stock worth $29,406,000 after acquiring an additional 173,683 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CUBE. Truist Financial increased their target price on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on shares of CubeSmart from $52.00 to $53.00 and gave the company an "in-line" rating in a report on Monday, September 16th. UBS Group cut shares of CubeSmart from a "buy" rating to a "neutral" rating and upped their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Scotiabank lowered their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a research report on Monday, November 25th. Finally, Jefferies Financial Group upped their target price on CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. 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 stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and an average target price of $51.36.

CubeSmart Stock Down 0.4 %

Shares of NYSE CUBE traded down $0.17 during midday trading on Friday, hitting $46.27. 1,024,402 shares of the stock traded hands, compared to its average volume of 1,154,002. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The business has a 50 day moving average price of $48.67 and a two-hundred day moving average price of $48.35. 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 market cap of $10.46 billion, a PE ratio of 26.14, a P/E/G ratio of 13.05 and a beta of 0.84.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings results 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). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter last year, the firm posted $0.68 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

About CubeSmart

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.