CubeSmart (NYSE:CUBE) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its holdings in CubeSmart (NYSE:CUBE) by 1.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 377,318 shares of the real estate investment trust’s stock after selling 5,544 shares during the quarter. Asset Management One Co. Ltd.’s holdings in CubeSmart were worth $20,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 valued at $1,443,316,000 after buying an additional 274,493 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock valued at $257,191,000 after purchasing an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in CubeSmart by 12.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after buying an additional 303,347 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Up 2.3 %

CUBE stock opened at $49.09 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.03. CubeSmart has a 52-week low of $35.58 and a 52-week high of $55.14. The company has a 50-day moving average of $51.30 and a two-hundred day moving average of $47.19. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 8.77 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last released 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). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays reduced their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Truist Financial increased their target price on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group upped their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Scotiabank assumed coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price target on the stock. One equities research 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. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average target price of $51.45.

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.