CubeSmart $CUBE Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in shares of CubeSmart (NYSE:CUBE) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 724,521 shares of the real estate investment trust’s stock after selling 5,063 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of CubeSmart worth $30,792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. True Wealth Design LLC lifted its stake in CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 524 shares during the last quarter. Covestor Ltd raised its holdings in CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 292 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of CubeSmart by 1,776.1% during 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 lifted its position in shares of CubeSmart by 82.8% during 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 holdings 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 valued at $71,000 after buying an additional 1,349 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CUBE stock opened at $37.36 on Thursday. The stock’s 50-day moving average price is $39.22 and its 200 day moving average price is $40.75. 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 stock has a market capitalization of $8.52 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 8.91 and a beta of 0.99. CubeSmart has a 52-week low of $34.24 and a 52-week high of $50.69.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI cut their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Royal Bank Of Canada cut their target price on CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a research report on Monday, November 17th. Citigroup dropped their price target on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, August 25th. Finally, UBS Group reduced their price objective on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.94.

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.