Tidal Investments LLC Has $7.52 Million Stock Holdings in CubeSmart (NYSE:CUBE)

Tidal Investments LLC boosted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 24.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,099 shares of the real estate investment trust's stock after purchasing an additional 27,912 shares during the quarter. Tidal Investments LLC owned approximately 0.06% of CubeSmart worth $7,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CUBE. Whittier Trust Co. increased its position 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 acquiring an additional 323 shares during the period. UMB Bank n.a. increased its holdings in shares of CubeSmart by 302.0% during the third 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 during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart during the second quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in CubeSmart in the third quarter worth about $33,000. Finally, Quarry LP grew its position in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 757 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Performance

Shares of CubeSmart stock traded down $0.11 on Friday, reaching $46.33. The stock had a trading volume of 683,991 shares, compared to its average volume of 1,346,954. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The business's 50-day moving average price is $48.77 and its two-hundred day moving average price is $48.32. 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 stock has a market cap of $10.48 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 13.10 and a beta of 0.84.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly 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). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The business's quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CUBE shares. Jefferies Financial Group upped their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Scotiabank cut their target price 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. UBS Group cut CubeSmart from a "buy" rating to a "neutral" rating and lifted their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Wells Fargo & Company upped their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Finally, Royal Bank of Canada lowered their target price on CubeSmart from $56.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. One research 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.