CubeSmart $CUBE Stock Holdings Trimmed by Presima Securities ULC

Presima Securities ULC lowered its stake in shares of CubeSmart (NYSE:CUBE) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487,993 shares of the real estate investment trust’s stock after selling 12,289 shares during the period. CubeSmart makes up approximately 4.8% of Presima Securities ULC’s portfolio, making the stock its 9th biggest holding. Presima Securities ULC’s holdings in CubeSmart were worth $20,740,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its stake in CubeSmart by 28.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust’s stock worth $370,049,000 after purchasing an additional 1,937,055 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock valued at $291,922,000 after acquiring an additional 543,158 shares during the period. JPMorgan Chase & Co. raised its stake in shares of CubeSmart by 29.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock valued at $237,519,000 after acquiring an additional 1,261,746 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of CubeSmart by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock valued at $216,986,000 after acquiring an additional 27,278 shares during the period. Finally, Northern Trust Corp raised its stake in shares of CubeSmart by 4.3% in the 1st quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock valued at $167,463,000 after acquiring an additional 162,068 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CUBE. Barclays cut their target price on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $45.00 target price on shares of CubeSmart and gave the company a “buy” rating in a research note on Monday, October 13th. Evercore ISI raised their target price on shares of CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada cut their target price on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus target price of $46.06.

CubeSmart Price Performance

CUBE opened at $37.68 on Friday. The company has a fifty day simple moving average of $40.71 and a 200 day simple moving average of $41.22. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 8.91 and a beta of 0.96. CubeSmart has a twelve month low of $34.24 and a twelve month high of $50.69. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal 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.