Metis Global Partners LLC Boosts Holdings in CubeSmart (NYSE:CUBE)

Metis Global Partners LLC boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 29.8% in the third quarter, HoldingsChannel.com reports. The fund owned 23,178 shares of the real estate investment trust’s stock after buying an additional 5,324 shares during the quarter. Metis Global Partners LLC’s holdings in CubeSmart were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CUBE. Whittier Trust Co. raised 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. raised its holdings in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CubeSmart in the second quarter valued at $33,000. Quarry LP boosted its stake in shares of CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in CubeSmart by 8,906.3% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,441 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Barclays lowered their target price 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. Scotiabank assumed coverage on CubeSmart in a research note on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price target on the stock. Finally, Raymond James lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.45.

CubeSmart Trading Up 0.8 %

NYSE:CUBE opened at $48.33 on Friday. CubeSmart has a 12 month low of $38.29 and a 12 month high of $55.14. The business’s 50-day moving average is $50.68 and its two-hundred day moving average is $47.57. 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 firm has a market capitalization of $10.93 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 13.46 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share 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 analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 EPS. Research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Company 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.