CubeSmart (NYSE:CUBE) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lifted its holdings in CubeSmart (NYSE:CUBE) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 2,201,129 shares of the real estate investment trust’s stock after buying an additional 42,994 shares during the quarter. CubeSmart makes up 1.4% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 23rd largest holding. Duff & Phelps Investment Management Co.’s holdings in CubeSmart were worth $118,487,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 323 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart during the second quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in CubeSmart in the 3rd quarter worth approximately $33,000. Finally, Quarry LP grew its stake in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 757 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

CUBE has been the topic of several recent analyst reports. Scotiabank lowered their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Evercore ISI increased their price target on 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 cut CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Jefferies Financial Group increased 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. Finally, Wells Fargo & Company lifted their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Stock Down 0.1 %

Shares of NYSE CUBE opened at $47.48 on Monday. The stock has a market cap of $10.74 billion, a PE ratio of 26.83, a P/E/G ratio of 13.34 and a beta of 0.84. 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 has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a 50-day moving average of $49.25 and a 200 day moving average of $48.28.

CubeSmart (NYSE:CUBE) last issued its 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). The firm had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts predict 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.