Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in CubeSmart $CUBE

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CubeSmart (NYSE:CUBE) by 4.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 164,543 shares of the real estate investment trust’s stock after acquiring an additional 7,009 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of CubeSmart worth $6,993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP grew 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 valued at $37,000 after acquiring an additional 501 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of CubeSmart by 6.2% in the first quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 316 shares during the period. CWM LLC boosted its stake in shares of CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 371 shares during the period. Victory Capital Management Inc. grew its holdings in CubeSmart by 6.8% during the 1st quarter. Victory Capital Management Inc. now owns 580,530 shares of the real estate investment trust’s stock valued at $24,794,000 after purchasing an additional 36,807 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in CubeSmart by 2.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 108,126 shares of the real estate investment trust’s stock worth $4,618,000 after buying an additional 2,104 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 1.0%

NYSE:CUBE opened at $36.89 on Thursday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. CubeSmart has a one year low of $34.24 and a one year high of $50.69. The stock has a 50-day simple moving average of $40.17 and a 200 day simple moving average of $41.11. 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 (NYSE:CUBE) last announced its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. CubeSmart’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday. Evercore ISI dropped 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, November 3rd. UBS Group cut their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Royal Bank Of Canada reduced their price target on CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Barclays dropped 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. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.94.

CubeSmart Company 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.