CubeSmart $CUBE Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 92.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,873 shares of the real estate investment trust’s stock after acquiring an additional 33,151 shares during the period. Quantbot Technologies LP’s holdings in CubeSmart were worth $2,927,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. HighTower Advisors LLC boosted its holdings in CubeSmart by 19.9% in the first quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust’s stock valued at $1,587,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC raised its position in CubeSmart by 63.7% in the 1st quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock valued at $9,375,000 after purchasing an additional 85,414 shares in the last quarter. Jump Financial LLC purchased a new position in shares of CubeSmart in the 1st quarter valued at about $824,000. Charles Schwab Investment Management Inc. grew its position in shares of CubeSmart by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust’s stock worth $135,958,000 after buying an additional 58,564 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock worth $167,463,000 after buying an additional 162,068 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CUBE. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Monday, November 17th. Barclays reduced their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. UBS Group decreased their price objective on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft set a $45.00 target price on CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Citigroup cut their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.94.

CubeSmart Trading Down 0.6%

Shares of CubeSmart stock opened at $36.78 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $38.85 and a 200-day simple moving average of $40.52. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 8.81 and a beta of 1.11. CubeSmart has a 12-month low of $34.24 and a 12-month high of $47.88.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. During the same period in the previous year, the company earned $0.67 earnings per share. CubeSmart’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that CubeSmart will post 2.64 EPS 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.