Penserra Capital Management LLC Sells 380 Shares of CubeSmart (NYSE:CUBE)

Penserra Capital Management LLC reduced its position in CubeSmart (NYSE:CUBE) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,441 shares of the real estate investment trust’s stock after selling 380 shares during the quarter. Penserra Capital Management LLC’s holdings in CubeSmart were worth $777,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CUBE. Tidal Investments LLC boosted its position in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock valued at $4,040,000 after acquiring an additional 21,967 shares during the last quarter. Invst LLC bought a new stake in shares of CubeSmart during the 1st quarter valued at about $715,000. DekaBank Deutsche Girozentrale grew its stake in CubeSmart by 19.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 125,672 shares of the real estate investment trust’s stock worth $5,593,000 after purchasing an additional 20,077 shares during the period. GAMMA Investing LLC increased its holdings in CubeSmart by 141.6% in the second quarter. GAMMA Investing LLC now owns 1,556 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 912 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in CubeSmart by 292.6% in the second quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 10,835 shares during the period. 97.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

CUBE has been the subject of several research analyst reports. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group lifted their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Barclays cut their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company boosted their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Scotiabank decreased their price objective on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.36.

CubeSmart Trading Up 0.4 %

NYSE CUBE opened at $50.14 on Thursday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $50.04 and a 200 day simple moving average of $47.97. CubeSmart has a 12 month low of $38.34 and a 12 month high of $55.14. The firm has a market capitalization of $11.34 billion, a P/E ratio of 28.33, a PEG ratio of 14.00 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that CubeSmart will post 2.64 EPS 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.