CubeSmart $CUBE Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its position in shares of CubeSmart (NYSE:CUBE) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,272 shares of the real estate investment trust’s stock after selling 1,418 shares during the period. Atria Investments Inc’s holdings in CubeSmart were worth $224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its position in shares of CubeSmart by 115.2% in the first 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 period. Covestor Ltd grew its position in shares of 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 buying an additional 292 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of CubeSmart by 1,776.1% in the second 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 increased its stake in shares of CubeSmart by 82.8% in the second 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 raised its holdings in CubeSmart by 737.2% in the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 1,349 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CUBE. UBS Group decreased their price objective on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Evercore ISI reduced their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Barclays reduced their target price on CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.94.

CubeSmart Stock Performance

Shares of CUBE stock opened at $36.59 on Friday. The company has a market cap of $8.34 billion, a P/E ratio of 22.31, a PEG ratio of 8.91 and a beta of 0.99. The business has a 50 day moving average of $40.08 and a two-hundred day moving average of $41.08. CubeSmart has a 52 week low of $34.24 and a 52 week high of $50.69. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.18.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results 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. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The business had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. During the same period in the prior year, the firm earned $0.67 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart 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.