Janus Henderson Group PLC Cuts Position in CubeSmart (NYSE:CUBE)

Janus Henderson Group PLC decreased its holdings in CubeSmart (NYSE:CUBE) by 34.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,039,461 shares of the real estate investment trust’s stock after selling 535,712 shares during the period. Janus Henderson Group PLC owned approximately 0.46% of CubeSmart worth $55,944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CUBE. Whittier Trust Co. raised its holdings in CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares during the period. UMB Bank n.a. raised its holdings in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new position in CubeSmart in the third quarter valued at approximately $33,000. Finally, Quarry LP raised its holdings in CubeSmart by 195.6% in the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

CUBE has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Jefferies Financial Group lifted their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Scotiabank dropped their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Finally, Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CubeSmart presently has an average rating of “Hold” and a consensus price target of $51.36.

CubeSmart Stock Down 0.9 %

CUBE stock opened at $47.53 on Friday. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $10.75 billion, a P/E ratio of 26.85, a PEG ratio of 13.47 and a beta of 0.84. The firm has a 50 day simple moving average of $49.47 and a 200-day simple moving average of $48.19.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.