Impact Partnership Wealth LLC Makes New Investment in CubeSmart $CUBE

Impact Partnership Wealth LLC purchased a new position in shares of CubeSmart (NYSE:CUBE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,192 shares of the real estate investment trust’s stock, valued at approximately $263,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in CubeSmart by 7.4% during the 1st quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 255 shares during the last quarter. Securian Asset Management Inc. raised its holdings in CubeSmart by 1.5% during the 2nd quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock worth $738,000 after purchasing an additional 264 shares during the last quarter. Moran Wealth Management LLC raised its holdings in CubeSmart by 0.9% during the 2nd quarter. Moran Wealth Management LLC now owns 31,522 shares of the real estate investment trust’s stock worth $1,340,000 after purchasing an additional 270 shares during the last quarter. Covestor Ltd raised its holdings in CubeSmart by 22.8% during the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 292 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in CubeSmart by 0.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 63,200 shares of the real estate investment trust’s stock worth $2,699,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays lowered their price target on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Wall Street Zen upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Royal Bank Of Canada lowered their price objective on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. Finally, Evercore ISI lifted their price objective on shares of CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.06.

CubeSmart Trading Down 2.6%

Shares of CubeSmart stock opened at $39.04 on Friday. The stock has a market capitalization of $8.90 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 8.91 and a beta of 0.96. The stock has a 50 day moving average price of $40.78 and a two-hundred day moving average price of $41.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. CubeSmart has a 52 week low of $34.24 and a 52 week high of $50.69.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. CubeSmart’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. As a group, equities analysts anticipate that CubeSmart will post 2.64 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, 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.