Mitsubishi UFJ Trust & Banking Corp Raises Holdings in CubeSmart $CUBE

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CubeSmart (NYSE:CUBE) by 13,418.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,738 shares of the real estate investment trust’s stock after acquiring an additional 426,559 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.19% of CubeSmart worth $18,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC grew its position in CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 524 shares during the last quarter. Allworth Financial LP grew its holdings in shares of CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 501 shares during the last quarter. Covestor Ltd grew its holdings in shares of CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 292 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of 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 acquiring an additional 1,563 shares during the period. Finally, Signaturefd LLC raised its stake in CubeSmart by 82.8% in the 2nd quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 761 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CUBE. UBS Group dropped their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Barclays decreased their price objective on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Royal Bank Of Canada dropped their price target on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Evercore ISI cut their price objective on CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Citigroup decreased their price target on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, CubeSmart has an average rating of “Hold” and an average price target of $45.94.

CubeSmart Price Performance

CubeSmart stock opened at $36.58 on Friday. The company has a fifty day simple moving average of $39.98 and a 200-day simple moving average of $41.06. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 8.91 and a beta of 0.99. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a 52-week low of $34.24 and a 52-week high of $50.69.

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, hitting the consensus estimate of $0.65. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. During the same period last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal 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.