CubeSmart $CUBE Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of CubeSmart (NYSE:CUBE) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 966,306 shares of the real estate investment trust’s stock after purchasing an additional 55,000 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CubeSmart were worth $41,068,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CUBE. Securian Asset Management Inc. grew its holdings in CubeSmart by 1.5% in the second quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock valued at $738,000 after purchasing an additional 264 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of CubeSmart by 1.6% in the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after buying an additional 265 shares in the last quarter. Moran Wealth Management LLC grew its stake in CubeSmart by 0.9% in the 2nd quarter. Moran Wealth Management LLC now owns 31,522 shares of the real estate investment trust’s stock valued at $1,340,000 after acquiring an additional 270 shares during the last quarter. 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 acquiring an additional 292 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its position in CubeSmart by 0.5% during the first quarter. UniSuper Management Pty Ltd now owns 63,200 shares of the real estate investment trust’s stock worth $2,699,000 after acquiring an additional 300 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CUBE opened at $36.68 on Friday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $47.76. The company’s 50 day simple moving average is $38.78 and its 200 day simple moving average is $40.48. The stock has a market capitalization of $8.36 billion, a PE ratio of 23.51, a P/E/G ratio of 8.76 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. CubeSmart’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. As a group, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Royal Bank Of Canada lowered their target price on CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. 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. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, November 17th. Finally, Mizuho dropped their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, CubeSmart has an average rating of “Hold” and an average price target of $45.63.

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.