Capital Fund Management S.A. Takes Position in CubeSmart $CUBE

Capital Fund Management S.A. purchased a new position in CubeSmart (NYSE:CUBE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 37,244 shares of the real estate investment trust’s stock, valued at approximately $1,583,000.

Several other institutional investors also recently added to or reduced their stakes in CUBE. T. Rowe Price Investment Management Inc. raised its position in 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 acquiring an additional 1,937,055 shares during the period. Millennium Management LLC raised its holdings in shares of CubeSmart by 129.6% in the 1st quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust’s stock worth $96,585,000 after purchasing an additional 1,276,340 shares during the period. Nuveen LLC purchased a new position in CubeSmart in the first quarter valued at approximately $53,980,000. JPMorgan Chase & Co. grew its holdings in CubeSmart by 29.3% during the first quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust’s stock valued at $237,519,000 after purchasing an additional 1,261,746 shares during the period. Finally, Long Pond Capital LP bought a new position in CubeSmart during the first quarter valued at $47,358,000. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 0.6%

Shares of CUBE opened at $36.78 on Friday. The business’s 50-day moving average price is $38.85 and its 200-day moving average price is $40.52. CubeSmart has a twelve month low of $34.24 and a twelve month high of $47.88. The stock has a market cap of $8.39 billion, a PE ratio of 23.58, a P/E/G ratio of 8.81 and a beta of 1.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. CubeSmart’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. On average, equities analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on CUBE shares. UBS Group dropped their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Citigroup cut their target price on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft set a $45.00 target price on shares of CubeSmart and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, November 17th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, CubeSmart has a consensus rating of “Hold” and an average target price of $45.94.

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.