D.A. Davidson & CO. Purchases 1,561 Shares of CubeSmart (NYSE:CUBE)

D.A. Davidson & CO. lifted its position in CubeSmart (NYSE:CUBE) by 14.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,581 shares of the real estate investment trust’s stock after buying an additional 1,561 shares during the period. D.A. Davidson & CO.’s holdings in CubeSmart were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CUBE. Allspring Global Investments Holdings LLC boosted its position in CubeSmart by 14.0% in the third 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after buying an additional 303,347 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of CubeSmart by 38.2% in 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 last quarter. Victory Capital Management Inc. grew its position in CubeSmart by 46.6% during the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock valued at $29,406,000 after buying an additional 173,683 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after buying an additional 169,600 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $49.26 on Tuesday. The company has a market cap of $11.14 billion, a P/E ratio of 27.83, a P/E/G ratio of 13.91 and a beta of 0.84. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The firm’s fifty day moving average is $49.79 and its two-hundred day moving average is $48.12.

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 the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same period last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several analyst reports. UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Royal Bank of Canada reduced their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Scotiabank cut their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Finally, Truist Financial raised their target price on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.36.

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.