Loomis Sayles & Co. L P Has $63,000 Holdings in CubeSmart (NYSE:CUBE)

Loomis Sayles & Co. L P grew its stake in CubeSmart (NYSE:CUBE) by 3,130.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,163 shares of the real estate investment trust’s stock after buying an additional 1,127 shares during the quarter. Loomis Sayles & Co. L P’s holdings in CubeSmart were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CUBE. Whittier Trust Co. lifted its position in shares of CubeSmart by 136.9% during 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 during the last quarter. UMB Bank n.a. lifted its position in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of CubeSmart during the 2nd quarter worth about $33,000. Peterson Financial Group Inc. acquired a new position in shares of CubeSmart during the 3rd quarter worth about $33,000. Finally, Quarry LP lifted its position 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 last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CUBE shares. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Wells Fargo & Company boosted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Truist Financial boosted their price objective on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada cut their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI upped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average target price of $51.36.

CubeSmart Trading Up 0.4 %

CUBE stock opened at $50.14 on Friday. CubeSmart has a 1-year low of $38.34 and a 1-year high of $55.14. The firm has a market cap of $11.34 billion, a P/E ratio of 28.33, a P/E/G ratio of 14.02 and a beta of 0.84. The business’s 50 day moving average is $49.96 and its 200-day moving average is $47.98. 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 released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share 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 company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts anticipate 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.