Verition Fund Management LLC Has $9.42 Million Stake in CubeSmart (NYSE:CUBE)

Verition Fund Management LLC lifted its position in CubeSmart (NYSE:CUBE - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 174,961 shares of the real estate investment trust's stock after purchasing an additional 18,879 shares during the quarter. Verition Fund Management LLC owned 0.08% of CubeSmart worth $9,418,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CUBE. Boston Trust Walden Corp increased its holdings in shares of CubeSmart by 2.7% in the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust's stock valued at $39,947,000 after purchasing an additional 23,179 shares in the last quarter. PGGM Investments lifted its holdings in CubeSmart by 7.3% in the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust's stock valued at $39,242,000 after buying an additional 59,020 shares during the period. Gateway Investment Advisers LLC boosted its stake in CubeSmart by 52.6% in the second quarter. Gateway Investment Advisers LLC now owns 358,286 shares of the real estate investment trust's stock valued at $16,184,000 after acquiring an additional 123,464 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of CubeSmart by 292.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust's stock worth $657,000 after purchasing an additional 10,835 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in CubeSmart by 19.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 125,672 shares of the real estate investment trust's stock valued at $5,593,000 after purchasing an additional 20,077 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Down 1.2 %

Shares of CUBE stock traded down $0.58 on Friday, hitting $49.56. 1,119,716 shares of the stock were exchanged, compared to its average volume of 1,335,767. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $11.21 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 13.91 and a beta of 0.84. CubeSmart has a fifty-two week low of $39.52 and a fifty-two week high of $55.14. The business has a 50-day moving average of $49.79 and a 200 day moving average of $48.09.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results 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 return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period last year, the company earned $0.68 EPS. The company's revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CUBE. Wells Fargo & Company upped their price target on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Truist Financial upped their target price on shares of CubeSmart from $44.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Barclays reduced their price target on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Evercore ISI raised their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.