CubeSmart $CUBE Stock Position Lowered by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC decreased its position in CubeSmart (NYSE:CUBE) by 31.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,449,735 shares of the real estate investment trust’s stock after selling 1,106,642 shares during the quarter. CubeSmart comprises approximately 1.6% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 23rd largest position. Cbre Investment Management Listed Real Assets LLC’s holdings in CubeSmart were worth $104,114,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its position in CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 501 shares in the last quarter. Covestor Ltd raised its holdings in shares of CubeSmart by 22.8% in 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 in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of CubeSmart by 1,776.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,563 shares in the last quarter. Signaturefd LLC lifted its stake in CubeSmart by 82.8% during the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 761 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in CubeSmart by 737.2% during the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,349 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup dropped their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Evercore ISI cut their target price on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday. 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. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Finally, Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, CubeSmart currently has an average rating of “Hold” and an average target price of $45.94.

CubeSmart Stock Down 2.0%

Shares of CubeSmart stock opened at $36.97 on Friday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $50.69. The company has a market cap of $8.43 billion, a P/E ratio of 22.55, a P/E/G ratio of 8.91 and a beta of 0.99. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $40.45 and a 200 day moving average price of $41.17.

CubeSmart (NYSE:CUBE) last issued its 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. The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, analysts expect 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.