Franklin Resources Inc. Has $10.84 Million Stake in CubeSmart $CUBE

Franklin Resources Inc. lowered its stake in CubeSmart (NYSE:CUBE) by 30.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,072 shares of the real estate investment trust’s stock after selling 110,060 shares during the period. Franklin Resources Inc. owned 0.11% of CubeSmart worth $10,841,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. HighTower Advisors LLC grew its stake in shares of CubeSmart by 19.9% during the first quarter. HighTower Advisors LLC now owns 37,160 shares of the real estate investment trust’s stock worth $1,587,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC boosted its holdings in CubeSmart by 63.7% during the first quarter. MetLife Investment Management LLC now owns 219,496 shares of the real estate investment trust’s stock worth $9,375,000 after buying an additional 85,414 shares during the last quarter. Jump Financial LLC acquired a new position in shares of CubeSmart during the 1st quarter worth about $824,000. Charles Schwab Investment Management Inc. increased its stake in shares of CubeSmart by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,183,271 shares of the real estate investment trust’s stock valued at $135,958,000 after acquiring an additional 58,564 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of CubeSmart by 4.3% in the 1st 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CUBE. Royal Bank Of Canada decreased their price objective on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Citigroup reduced their price target on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, November 17th. 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 issued a Hold rating to the company. According to MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average price target of $45.94.

CubeSmart Stock Down 0.3%

Shares of CUBE stock opened at $37.23 on Friday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.44. 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 fifty day moving average of $39.09 and a 200-day moving average of $40.67. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 8.91 and a beta of 0.99.

CubeSmart (NYSE:CUBE) last announced its 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. The firm had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. As a group, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.