Charles Schwab Investment Management Inc. Grows Position in CubeSmart (NYSE:CUBE)

Charles Schwab Investment Management Inc. raised its holdings in CubeSmart (NYSE:CUBE) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,032,885 shares of the real estate investment trust’s stock after acquiring an additional 135,211 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CubeSmart were worth $163,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CUBE. CIBC Asset Management Inc grew 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 valued at $358,000 after buying an additional 233 shares in the last quarter. Mirador Capital Partners LP grew its stake in CubeSmart by 1.6% during the third quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock valued at $855,000 after acquiring an additional 248 shares in the last quarter. Presima Securities ULC increased its holdings in CubeSmart by 2.9% during the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock worth $571,000 after acquiring an additional 300 shares during the period. Fifth Third Bancorp increased its holdings in CubeSmart by 14.7% during the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 311 shares during the period. Finally, Whittier Trust Co. lifted its stake in CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Jefferies Financial Group boosted their price objective on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Barclays lowered their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. One 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. According to MarketBeat, CubeSmart currently has an average rating of “Hold” and an average target price of $51.45.

CubeSmart Trading Up 0.6 %

CUBE stock opened at $48.91 on Monday. The company has a market capitalization of $11.06 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 13.73 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a one year low of $38.29 and a one year high of $55.14. The company’s 50 day moving average price is $50.21 and its two-hundred day moving average price is $47.86.

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). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter in the previous year, the business earned $0.68 EPS. CubeSmart’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts predict 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.