3,795 Shares in CubeSmart (NYSE:CUBE) Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. bought a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,795 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP raised its holdings in CubeSmart by 29,720.5% during the first quarter. Twin Tree Management LP now owns 11,630 shares of the real estate investment trust’s stock worth $526,000 after purchasing an additional 11,591 shares in the last quarter. Tidal Investments LLC raised its holdings in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock worth $4,040,000 after purchasing an additional 21,967 shares in the last quarter. Boston Trust Walden Corp raised its holdings in CubeSmart by 2.7% during the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock worth $39,947,000 after purchasing an additional 23,179 shares in the last quarter. PGGM Investments raised its holdings in CubeSmart by 7.3% during the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock worth $39,242,000 after purchasing an additional 59,020 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in CubeSmart in the first quarter worth approximately $48,716,000. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CUBE. Jefferies Financial Group lifted their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Barclays decreased their price target on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Scotiabank initiated coverage on shares of CubeSmart in a research report on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and an average target price of $51.45.

CubeSmart Trading Up 2.3 %

NYSE CUBE opened at $49.09 on Wednesday. CubeSmart has a twelve month low of $35.58 and a twelve month high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.03 and a current ratio of 0.20. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 8.65 and a beta of 0.84. The firm’s 50 day moving average price is $51.30 and its two-hundred day moving average price is $47.19.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Equities analysts anticipate that CubeSmart will post 2.64 EPS 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.