Natixis Advisors LLC Raises Stock Holdings in CubeSmart (NYSE:CUBE)

Natixis Advisors LLC raised its position in shares of CubeSmart (NYSE:CUBE) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,126 shares of the real estate investment trust’s stock after purchasing an additional 3,131 shares during the quarter. Natixis Advisors LLC’s holdings in CubeSmart were worth $3,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CUBE. CIBC Asset Management Inc boosted its stake in shares of CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 233 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of CubeSmart by 1.6% during the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 248 shares in the last quarter. Presima Securities ULC increased its holdings in shares of CubeSmart by 2.9% during the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock valued at $571,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of CubeSmart by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 311 shares during the period. Finally, Whittier Trust Co. boosted its holdings in CubeSmart by 136.9% during the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 323 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CUBE. Scotiabank started coverage on shares of CubeSmart in a report on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price objective for the company. Barclays cut their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Wells Fargo & Company raised 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 reduced 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 analyst has rated the stock with a sell rating, six have issued a hold rating and four have given 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 $51.45.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $48.91 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1 year low of $38.29 and a 1 year high of $55.14. The firm has a market capitalization of $11.06 billion, a PE ratio of 27.63, a P/E/G ratio of 13.65 and a beta of 0.84. The business’s 50 day moving average price is $50.21 and its 200-day moving average price is $47.82.

CubeSmart (NYSE:CUBE) last announced 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 firm had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter in the previous year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

About CubeSmart

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.