Shelton Capital Management bought a new stake in CubeSmart (NYSE:CUBE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,395 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of CubeSmart by 0.8% in the third quarter. BlackRock Inc. now owns 13,894,470 shares of the real estate investment trust’s stock valued at $448,929,000 after buying an additional 110,857 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in CubeSmart by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 8,445,911 shares of the real estate investment trust’s stock worth $272,887,000 after buying an additional 116,881 shares during the last quarter. PGGM Investments lifted its holdings in CubeSmart by 6.1% during the 3rd quarter. PGGM Investments now owns 7,348,916 shares of the real estate investment trust’s stock worth $237,443,000 after buying an additional 421,123 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in CubeSmart by 10.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,223,094 shares of the real estate investment trust’s stock worth $113,981,000 after buying an additional 410,613 shares during the last quarter. Finally, Cbre Clarion Securities LLC lifted its holdings in CubeSmart by 3.9% during the 2nd quarter. Cbre Clarion Securities LLC now owns 3,924,451 shares of the real estate investment trust’s stock worth $105,921,000 after buying an additional 147,835 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

In other CubeSmart news, VP Jeffrey P. Foster sold 25,510 shares of CubeSmart stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $33.10, for a total transaction of $844,381.00. Following the sale, the vice president now owns 156,084 shares of the company’s stock, valued at approximately $5,166,380.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.11% of the stock is owned by insiders.

CUBE has been the topic of a number of research analyst reports. Jefferies Financial Group raised CubeSmart from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, October 13th. Bank of America raised CubeSmart from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $29.00 to $32.00 in a report on Wednesday, August 12th. TheStreet raised CubeSmart from a “c+” rating to a “b-” rating in a report on Monday, November 2nd. Raymond James downgraded CubeSmart from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 6th. Finally, Evercore ISI raised CubeSmart from an “in-line” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Monday, August 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. CubeSmart has an average rating of “Hold” and a consensus price target of $32.73.

Shares of CubeSmart stock opened at $33.18 on Friday. The business’s fifty day moving average price is $33.92 and its two-hundred day moving average price is $30.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $6.48 billion, a P/E ratio of 38.58, a PEG ratio of 8.06 and a beta of 0.31. CubeSmart has a 1-year low of $19.61 and a 1-year high of $35.77.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, November 5th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.17). The business had revenue of $172.50 million for the quarter, compared to the consensus estimate of $166.66 million. CubeSmart had a net margin of 24.83% and a return on equity of 9.30%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. On average, research analysts expect that CubeSmart will post 1.64 earnings per share 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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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