Oddo BHF Asset Management Sas Purchases Shares of 8,203 CubeSmart (NYSE:CUBE)

Oddo BHF Asset Management Sas acquired a new position in shares of CubeSmart (NYSE:CUBE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,203 shares of the real estate investment trust’s stock, valued at approximately $442,000.

Other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its stake in CubeSmart by 12.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,520 shares of the real estate investment trust’s stock valued at $837,000 after purchasing an additional 2,054 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of CubeSmart by 4.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 632,893 shares of the real estate investment trust’s stock worth $28,588,000 after buying an additional 27,376 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of CubeSmart by 136.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,129 shares of the real estate investment trust’s stock valued at $638,000 after acquiring an additional 8,149 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of CubeSmart by 10.3% in the second quarter. Pallas Capital Advisors LLC now owns 39,253 shares of the real estate investment trust’s stock valued at $1,901,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in CubeSmart by 14.7% during the second quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 311 shares during the period. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CUBE shares. Wells Fargo & Company boosted their price objective 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. Scotiabank cut their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada reduced their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Evercore ISI lifted their price objective on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.36.

CubeSmart Price Performance

Shares of CUBE stock opened at $46.27 on Friday. The business has a fifty day simple moving average of $48.67 and a 200 day simple moving average of $48.40. The company has a market cap of $10.46 billion, a P/E ratio of 26.14, a P/E/G ratio of 13.00 and a beta of 0.84. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE) last posted its earnings results 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 company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. On average, sell-side analysts forecast that CubeSmart will post 2.63 EPS for the current fiscal 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.