CubeSmart (NYSE:CUBE) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in CubeSmart (NYSE:CUBE) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 4,991 shares of the real estate investment trust’s stock after selling 355 shares during the quarter. Raymond James Trust N.A.’s holdings in CubeSmart were worth $269,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in shares of CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. UMB Bank n.a. boosted its holdings in CubeSmart by 302.0% in the 3rd 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 period. Ashton Thomas Private Wealth LLC acquired a new stake in CubeSmart in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in shares of CubeSmart during the third quarter valued at approximately $33,000. Finally, Quarry LP raised 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 purchasing an additional 757 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CUBE shares. Royal Bank of Canada lowered their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Jefferies Financial Group raised their target price on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Barclays reduced their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Stock Performance

Shares of CUBE opened at $50.14 on Thursday. The stock has a market capitalization of $11.34 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 14.00 and a beta of 0.84. The business’s fifty day moving average price is $50.04 and its 200 day moving average price is $47.97. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 12-month low of $38.34 and a 12-month high of $55.14.

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