CubeSmart (NYSE:CUBE) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors raised its holdings in CubeSmart (NYSE:CUBE) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,734 shares of the real estate investment trust’s stock after purchasing an additional 248 shares during the quarter. Captrust Financial Advisors’ holdings in CubeSmart were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PEAK6 Investments LLC purchased a new stake in shares of CubeSmart in the third quarter valued at approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock valued at $90,229,000 after acquiring an additional 1,282,995 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CubeSmart by 2.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 126,010 shares of the real estate investment trust’s stock worth $6,783,000 after purchasing an additional 2,812 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of CubeSmart by 1,980.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 52,000 shares of the real estate investment trust’s stock worth $2,799,000 after purchasing an additional 49,500 shares during the period. Finally, Townsquare Capital LLC purchased a new position in shares of CubeSmart in the 3rd quarter valued at about $327,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CUBE shares. Wells Fargo & Company upped their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays dropped their price objective 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. Jefferies Financial Group boosted their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and raised their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Finally, Scotiabank decreased their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.36.

CubeSmart Price Performance

CubeSmart stock opened at $46.27 on Friday. The stock has a market capitalization of $10.46 billion, a P/E ratio of 26.14, a P/E/G ratio of 13.00 and a beta of 0.84. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm’s 50-day moving average is $48.67 and its two-hundred day moving average is $48.40.

CubeSmart (NYSE:CUBE) last announced its 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 for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Equities analysts predict that CubeSmart will post 2.63 earnings per share for the current 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.