CubeSmart (NYSE:CUBE) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its stake in CubeSmart (NYSE:CUBE) by 1,980.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,000 shares of the real estate investment trust’s stock after purchasing an additional 49,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CubeSmart were worth $2,799,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $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 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after buying an additional 303,347 shares during the period. Sei Investments Co. grew its position in shares of CubeSmart by 38.2% during the 2nd quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock valued at $34,427,000 after buying an additional 210,871 shares during the last quarter. Victory Capital Management Inc. raised its stake 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 worth $29,406,000 after acquiring an additional 173,683 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in CubeSmart by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after acquiring an additional 169,600 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $49.56 on Friday. The stock’s 50 day moving average price is $49.79 and its 200 day moving average price is $48.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 14.08 and a beta of 0.84. CubeSmart has a 12 month low of $39.52 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last announced 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). The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. Equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of research reports. Royal Bank of Canada dropped their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Scotiabank cut their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. 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 research report on Friday, August 16th. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Jefferies Financial Group upped their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and an average price target of $51.36.

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.