Pathstone Holdings LLC Buys 1,076 Shares of CubeSmart (NYSE:CUBE)

Pathstone Holdings LLC grew its stake in CubeSmart (NYSE:CUBE) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,279 shares of the real estate investment trust’s stock after purchasing an additional 1,076 shares during the quarter. Pathstone Holdings LLC’s holdings in CubeSmart were worth $3,945,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CUBE. Lindenwold Advisors INC raised its holdings in CubeSmart by 8.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,580 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 430 shares during the period. Peterson Financial Group Inc. bought a new position in shares of CubeSmart during the third quarter worth approximately $33,000. Natixis Advisors LLC increased its stake in shares of CubeSmart by 4.6% during the third quarter. Natixis Advisors LLC now owns 71,126 shares of the real estate investment trust’s stock worth $3,829,000 after purchasing an additional 3,131 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in CubeSmart by 8.4% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 15,209 shares of the real estate investment trust’s stock worth $819,000 after purchasing an additional 1,180 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 233 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CUBE has been the subject of a number of research reports. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Jefferies Financial Group lifted their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Scotiabank started coverage on shares of CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 target price on the stock. Evercore ISI raised their target price on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada cut their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.45.

CubeSmart Stock Up 0.6 %

NYSE CUBE opened at $48.91 on Friday. The business has a fifty day moving average price of $50.21 and a two-hundred day moving average price of $47.82. The stock has a market capitalization of $11.06 billion, a PE ratio of 27.63, a PEG ratio of 13.65 and a beta of 0.84. CubeSmart has a fifty-two week low of $38.29 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

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

CubeSmart 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.