Retirement Systems of Alabama Acquires 3,356 Shares of CubeSmart $CUBE

Retirement Systems of Alabama increased its holdings in CubeSmart (NYSE:CUBE) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 606,412 shares of the real estate investment trust’s stock after purchasing an additional 3,356 shares during the period. Retirement Systems of Alabama’s holdings in CubeSmart were worth $25,773,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its stake in shares of 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 during the period. IFP Advisors Inc boosted its holdings 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 during the last quarter. Covestor Ltd grew its position in 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 during the period. Hantz Financial Services Inc. raised its stake in CubeSmart by 1,776.1% during 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 buying an additional 1,563 shares during the last quarter. Finally, Signaturefd LLC raised its stake in CubeSmart by 82.8% during the 2nd quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 761 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the subject of a number of research reports. Evercore ISI upped their price objective on CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research report on Monday, October 13th. Citigroup dropped their price objective on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Royal Bank Of Canada reduced their target price on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.06.

CubeSmart Trading Down 2.6%

CUBE opened at $39.04 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $40.78 and its two-hundred day moving average is $41.22. The company has a market capitalization of $8.90 billion, a P/E ratio of 23.80, a PEG ratio of 8.91 and a beta of 0.96. 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 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 analyst estimates of $282.57 million. During the same quarter last year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. Analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

About CubeSmart

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.