5,600 Shares in CubeSmart $CUBE Acquired by Worth Venture Partners LLC

Worth Venture Partners LLC bought a new position in shares of CubeSmart (NYSE:CUBE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,600 shares of the real estate investment trust’s stock, valued at approximately $238,000. CubeSmart accounts for 0.4% of Worth Venture Partners LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other institutional investors also recently modified their holdings of CUBE. T. Rowe Price Investment Management Inc. lifted its stake in shares of CubeSmart by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust’s stock worth $370,049,000 after buying an additional 1,937,055 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CubeSmart by 8.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust’s stock worth $291,922,000 after acquiring an additional 543,158 shares during the period. JPMorgan Chase & Co. raised its holdings in CubeSmart by 29.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock worth $237,519,000 after acquiring an additional 1,261,746 shares during the period. Allspring Global Investments Holdings LLC lifted its position in CubeSmart by 0.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock worth $216,986,000 after acquiring an additional 27,278 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CubeSmart by 4.3% during the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust’s stock valued at $167,463,000 after acquiring an additional 162,068 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 1.7%

Shares of CUBE opened at $36.90 on Wednesday. The stock’s 50-day moving average price is $39.30 and its 200 day moving average price is $40.78. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 8.91 and a beta of 0.99. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.69.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company had revenue of $285.08 million during the quarter, compared to the consensus estimate of $282.57 million. During the same quarter last year, the company earned $0.67 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, November 17th. Royal Bank Of Canada decreased their target price on CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Barclays dropped their price target on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. UBS Group cut their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.94.

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.