US Bancorp DE Has $727,000 Holdings in CubeSmart (NYSE:CUBE)

US Bancorp DE decreased its holdings in CubeSmart (NYSE:CUBE) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,502 shares of the real estate investment trust’s stock after selling 2,432 shares during the period. US Bancorp DE’s holdings in CubeSmart were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CUBE. Vanguard Group Inc. increased its stake in CubeSmart by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock valued at $1,443,316,000 after buying an additional 274,493 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after acquiring an additional 1,205,097 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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. Dimensional Fund Advisors LP grew its stake 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 valued at $152,652,000 after purchasing an additional 169,600 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in 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 worth $123,234,000 after purchasing an additional 303,347 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 2.4 %

CubeSmart stock opened at $48.88 on Friday. The business’s 50-day simple moving average is $51.01 and its 200-day simple moving average is $47.33. CubeSmart has a 52 week low of $35.69 and a 52 week high of $55.14. The firm has a market capitalization of $11.05 billion, a PE ratio of 27.62, a PEG ratio of 8.53 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.03 and a current ratio of 0.20.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on CUBE. Evercore ISI lifted 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 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. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays reduced their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company increased their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.45.

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.