Citigroup Inc. Purchases 25,756 Shares of CubeSmart (NYSE:CUBE)

Citigroup Inc. raised its holdings in shares of CubeSmart (NYSE:CUBE) by 28.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,903 shares of the real estate investment trust’s stock after purchasing an additional 25,756 shares during the quarter. Citigroup Inc. owned approximately 0.05% of CubeSmart worth $6,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of CubeSmart by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of CubeSmart by 11.8% during the third quarter. Advisors Asset Management Inc. now owns 5,010 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 529 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CubeSmart in the third quarter worth $3,810,000. Pathstone Holdings LLC boosted its holdings in shares of CubeSmart by 1.5% in the third quarter. Pathstone Holdings LLC now owns 73,279 shares of the real estate investment trust’s stock worth $3,945,000 after acquiring an additional 1,076 shares during the period. Finally, Lindenwold Advisors INC grew its position in shares of CubeSmart by 8.3% in the third quarter. Lindenwold Advisors INC now owns 5,580 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CUBE shares. 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. Royal Bank of Canada cut their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company increased their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $54.00 in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.36.

CubeSmart Stock Down 1.2 %

CUBE opened at $49.56 on Friday. The business’s fifty day simple moving average is $49.79 and its 200 day simple moving average is $48.05. CubeSmart has a 52 week low of $39.52 and a 52 week high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $11.21 billion, a PE ratio of 28.00, a P/E/G ratio of 14.08 and a beta of 0.84.

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). The firm had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.