TimesSquare Capital Management LLC Sells 13,790 Shares of CubeSmart (NYSE:CUBE)

TimesSquare Capital Management LLC lowered its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,045,565 shares of the real estate investment trust's stock after selling 13,790 shares during the period. TimesSquare Capital Management LLC owned approximately 0.46% of CubeSmart worth $56,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP lifted its position in shares of CubeSmart by 29,720.5% during the first quarter. Twin Tree Management LP now owns 11,630 shares of the real estate investment trust's stock valued at $526,000 after purchasing an additional 11,591 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of CubeSmart by 32.6% in the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust's stock valued at $4,040,000 after acquiring an additional 21,967 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in CubeSmart by 2.7% during the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust's stock worth $39,947,000 after acquiring an additional 23,179 shares during the period. PGGM Investments lifted its holdings in CubeSmart by 7.3% during the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust's stock worth $39,242,000 after acquiring an additional 59,020 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in CubeSmart by 6.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 411,028 shares of the real estate investment trust's stock worth $18,583,000 after purchasing an additional 24,144 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Trading Up 2.4 %

NYSE CUBE traded up $1.13 during trading on Friday, hitting $48.88. 1,152,835 shares of the company's stock traded hands, compared to its average volume of 1,506,711. The stock has a fifty day moving average of $51.01 and a two-hundred day moving average of $47.33. CubeSmart has a 12-month low of $35.69 and a 12-month high of $55.14. The firm has a market cap of $11.05 billion, a P/E ratio of 27.62, a PEG ratio of 8.93 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.03.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $267.49 million. During the same period last year, the company posted $0.68 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

Analyst Ratings Changes

CUBE has been the subject of several research reports. Raymond James increased their price objective on CubeSmart from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. UBS Group lowered shares of CubeSmart from a "buy" rating to a "neutral" rating and increased their target price for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Scotiabank assumed coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They issued a "sector outperform" rating and a $53.00 target price for the company. Finally, Jefferies Financial Group upped their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $51.45.

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.