CubeSmart $CUBE Stock Position Raised by Strs Ohio

Strs Ohio lifted its holdings in shares of CubeSmart (NYSE:CUBE) by 23.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 471,210 shares of the real estate investment trust’s stock after buying an additional 88,310 shares during the period. Strs Ohio’s holdings in CubeSmart were worth $20,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in CubeSmart by 28.8% in the 1st 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 last quarter. Millennium Management LLC grew its position in CubeSmart by 129.6% in the 1st quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust’s stock worth $96,585,000 after purchasing an additional 1,276,340 shares during the last quarter. Nuveen LLC bought a new position in CubeSmart in the 1st quarter worth about $53,980,000. JPMorgan Chase & Co. grew its position in 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 worth $237,519,000 after purchasing an additional 1,261,746 shares during the last quarter. Finally, Long Pond Capital LP bought a new position in CubeSmart in the 1st quarter worth about $47,358,000. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CUBE shares. Barclays decreased their target price on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Evercore ISI upped their target price on shares of CubeSmart from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Royal Bank Of Canada decreased their target price on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $46.06.

CubeSmart Trading Down 3.5%

Shares of NYSE:CUBE opened at $37.68 on Friday. The company has a 50 day moving average of $40.71 and a 200-day moving average of $41.22. The firm has a market cap of $8.59 billion, a P/E ratio of 22.97, a P/E/G 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 issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The company 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 for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. As a group, analysts anticipate that CubeSmart will post 2.64 earnings per share 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.