CubeSmart (NYSE:CUBE) Stake Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CubeSmart (NYSE:CUBE - Free Report) by 326.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,676,177 shares of the real estate investment trust's stock after purchasing an additional 1,282,995 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.74% of CubeSmart worth $90,229,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. grew its stake in shares of CubeSmart by 136.9% during the second 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 in the last quarter. UMB Bank n.a. grew its stake in CubeSmart by 302.0% during the 3rd 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in CubeSmart during the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of CubeSmart in the 3rd quarter valued at approximately $33,000. Finally, Quarry LP boosted its stake in shares of CubeSmart by 195.6% during 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 during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Truist Financial increased their price target 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. Royal Bank of Canada lowered their price objective on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Evercore ISI increased their target price on CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, Scotiabank lowered their price target on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and an average target price of $51.36.

CubeSmart Stock Performance

Shares of CUBE traded down $0.90 during midday trading on Tuesday, hitting $48.34. 1,078,910 shares of the stock traded hands, compared to its average volume of 1,351,253. The business's 50 day moving average price is $49.70 and its two-hundred day moving average price is $48.16. The firm has a market capitalization of $10.93 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 13.82 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its 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 firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same quarter last year, the company posted $0.68 EPS. CubeSmart's revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

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.