Quantinno Capital Management LP Increases Stock Holdings in CubeSmart (NYSE:CUBE)

Quantinno Capital Management LP lifted its position in CubeSmart (NYSE:CUBE) by 15.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,805 shares of the real estate investment trust’s stock after buying an additional 10,050 shares during the quarter. Quantinno Capital Management LP’s holdings in CubeSmart were worth $4,134,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBE. Whittier Trust Co. raised its stake in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. raised its stake in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in CubeSmart in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in CubeSmart in the third quarter valued at approximately $33,000. Finally, Quarry LP grew its position in CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

Shares of CubeSmart stock opened at $47.48 on Monday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $10.74 billion, a P/E ratio of 26.83, a P/E/G ratio of 13.34 and a beta of 0.84. The business has a fifty day simple moving average of $49.25 and a two-hundred day simple moving average of $48.28. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CUBE. Barclays reduced their price target on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and increased their price target for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group raised 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. Finally, Evercore ISI raised their target price on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One research 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. Based on data from MarketBeat, CubeSmart has an average rating of “Hold” and a consensus price target of $51.36.

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.