American Century Companies Inc. Has $28.21 Million Position in CubeSmart $CUBE

American Century Companies Inc. increased its holdings in shares of CubeSmart (NYSE:CUBE) by 18.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 663,764 shares of the real estate investment trust’s stock after acquiring an additional 102,578 shares during the quarter. American Century Companies Inc.’s holdings in CubeSmart were worth $28,210,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC lifted its holdings in shares of CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 524 shares during the period. Covestor Ltd increased 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 valued at $67,000 after purchasing an additional 292 shares in the last quarter. Hantz Financial Services Inc. raised its position in 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 valued at $70,000 after purchasing an additional 1,563 shares during the last quarter. Signaturefd LLC boosted its stake in CubeSmart by 82.8% in the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 761 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in CubeSmart by 737.2% in the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 1,349 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the subject of a number of research analyst reports. Citigroup cut their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, August 25th. UBS Group lowered 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. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Evercore ISI dropped their price objective on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.94.

CubeSmart Price Performance

Shares of CUBE stock opened at $37.23 on Monday. CubeSmart has a 52-week low of $34.24 and a 52-week high of $50.44. The stock has a market cap of $8.49 billion, a PE ratio of 22.70, a PEG ratio of 8.91 and a beta of 0.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The firm’s 50 day moving average price is $39.09 and its two-hundred day moving average price is $40.66.

CubeSmart (NYSE:CUBE) last posted 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 return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. During the same quarter in the prior year, the business posted $0.67 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that CubeSmart will post 2.64 EPS for the current year.

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.