Atria Investments Inc Decreases Stake in CubeSmart (NYSE:CUBE)

Atria Investments Inc cut its position in shares of CubeSmart (NYSE:CUBE) by 15.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,791 shares of the real estate investment trust’s stock after selling 1,960 shares during the period. Atria Investments Inc’s holdings in CubeSmart were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC raised its position in CubeSmart by 4.3% during the 3rd quarter. Carmel Capital Partners LLC now owns 9,611 shares of the real estate investment trust’s stock worth $517,000 after buying an additional 395 shares during the last quarter. QRG Capital Management Inc. raised its position in CubeSmart by 15.3% during the 3rd quarter. QRG Capital Management Inc. now owns 9,456 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 1,255 shares during the last quarter. Van ECK Associates Corp raised its position in CubeSmart by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 94,950 shares of the real estate investment trust’s stock worth $4,681,000 after buying an additional 10,363 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in CubeSmart by 127.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,013 shares of the real estate investment trust’s stock worth $1,777,000 after buying an additional 18,475 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in CubeSmart during the 3rd quarter worth $226,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

CUBE stock opened at $48.99 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 13.57 and a beta of 0.84. CubeSmart has a 1 year low of $38.29 and a 1 year high of $55.14. The stock’s fifty day moving average is $50.52 and its two-hundred day moving average is $47.72.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target 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. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group upped their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Raymond James upped their price target on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lowered 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. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.