Keybank National Association OH Cuts Position in CubeSmart $CUBE

Keybank National Association OH lessened its holdings in CubeSmart (NYSE:CUBE) by 41.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,731 shares of the real estate investment trust’s stock after selling 88,610 shares during the period. Keybank National Association OH owned approximately 0.06% of CubeSmart worth $5,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of CubeSmart by 115.2% in the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 501 shares during the last quarter. Covestor Ltd boosted its stake in shares of CubeSmart by 22.8% in the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 292 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of CubeSmart by 1,776.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 1,563 shares during the last quarter. Signaturefd LLC boosted its stake in shares of CubeSmart by 82.8% in the 2nd quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 761 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of CubeSmart by 737.2% in the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,349 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 3.5%

Shares of CUBE stock opened at $37.68 on Friday. The company’s fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $41.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. CubeSmart has a 1 year low of $34.24 and a 1 year high of $50.69. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 8.91 and a beta of 0.96.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. CubeSmart has set its FY 2025 guidance at 2.560-2.600 EPS. As a group, analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUBE. Deutsche Bank Aktiengesellschaft set a $45.00 target price on CubeSmart and gave the stock a “buy” rating in a research note on Monday, October 13th. UBS Group dropped their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Royal Bank Of Canada dropped their price objective on CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, August 4th. Evercore ISI upped their price objective on CubeSmart from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.06.

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.