Charles Schwab Investment Management Inc. Has $163.26 Million Position in CubeSmart (NYSE:CUBE)

Charles Schwab Investment Management Inc. increased its holdings in shares of CubeSmart (NYSE:CUBE) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,032,885 shares of the real estate investment trust’s stock after buying an additional 135,211 shares during the period. Charles Schwab Investment Management Inc. owned about 1.34% of CubeSmart worth $163,260,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in shares of CubeSmart by 1,575.2% in the first quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock worth $82,277,000 after acquiring an additional 1,711,762 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in CubeSmart by 26.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after purchasing an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after purchasing an additional 624,661 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of CubeSmart by 12.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after purchasing an additional 303,347 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of CubeSmart by 38.2% during the second quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock worth $34,427,000 after buying an additional 210,871 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CUBE shares. Truist Financial upped their price target on shares of CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group upped their target price on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI lifted their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company increased their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Barclays lowered their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $51.45.

CubeSmart Stock Performance

CUBE opened at $48.91 on Monday. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 13.73 and a beta of 0.84. The company’s fifty day moving average price is $50.21 and its two-hundred day moving average price is $47.86. CubeSmart has a 1-year low of $38.29 and a 1-year high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

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