CubeSmart (NYSE:CUBE) Stock Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 546,274 shares of the real estate investment trust's stock after purchasing an additional 173,683 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of CubeSmart worth $29,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBE. Vanguard Group Inc. increased its position in CubeSmart by 0.9% during the first quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust's stock worth $1,443,316,000 after purchasing an additional 274,493 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of CubeSmart by 26.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust's stock worth $257,191,000 after buying an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC raised 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 worth $273,986,000 after buying an additional 624,661 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust's stock worth $152,652,000 after buying an additional 169,600 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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 acquiring an additional 303,347 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Up 0.6 %

CUBE stock traded up $0.30 during mid-day trading on Monday, hitting $48.63. 719,762 shares of the company were exchanged, compared to its average volume of 1,356,607. The company has a market capitalization of $11.00 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 13.57 and a beta of 0.84. The firm has a fifty day simple moving average of $50.61 and a 200 day simple moving average of $47.67. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $38.29 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last posted 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 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 analyst estimates of $267.49 million. During the same quarter last year, the business posted $0.68 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research reports. UBS Group downgraded CubeSmart from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Raymond James raised their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Barclays cut their target price on shares of CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Finally, Evercore ISI upped their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $51.45.

CubeSmart Company 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.