D.A. Davidson & CO. Raises Stock Holdings in CubeSmart (NYSE:CUBE)

D.A. Davidson & CO. increased its stake in CubeSmart (NYSE:CUBE) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,581 shares of the real estate investment trust’s stock after purchasing an additional 1,561 shares during the period. D.A. Davidson & CO.’s holdings in CubeSmart were worth $677,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after purchasing an additional 624,661 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in CubeSmart by 12.5% during 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. Sei Investments Co. raised its stake in shares of CubeSmart by 38.2% during the second quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock worth $34,427,000 after acquiring an additional 210,871 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CubeSmart by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock worth $29,406,000 after acquiring an additional 173,683 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $152,652,000 after purchasing an additional 169,600 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group increased their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI increased their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Barclays reduced their target price on 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, UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. One 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Trading Down 0.6 %

CubeSmart stock opened at $49.26 on Tuesday. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 13.91 and a beta of 0.84. The business’s fifty day simple moving average is $49.79 and its two-hundred day simple moving average is $48.12. 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 (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities analysts predict that CubeSmart will post 2.64 earnings per share 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.