Landscape Capital Management L.L.C. Has $1.84 Million Stock Holdings in CubeSmart (NYSE:CUBE)

Landscape Capital Management L.L.C. lessened its position in shares of CubeSmart (NYSE:CUBE) by 60.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,176 shares of the real estate investment trust’s stock after selling 51,498 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in CubeSmart were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CUBE. Tidal Investments LLC boosted its holdings in CubeSmart by 32.6% during the first quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock valued at $4,040,000 after purchasing an additional 21,967 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of CubeSmart by 2.7% in the 2nd quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after purchasing an additional 23,179 shares in the last quarter. PGGM Investments increased its position in shares of CubeSmart by 7.3% during the 2nd quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock worth $39,242,000 after purchasing an additional 59,020 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in CubeSmart by 52.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 358,286 shares of the real estate investment trust’s stock valued at $16,184,000 after purchasing an additional 123,464 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in CubeSmart by 292.6% in the second quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 10,835 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on CUBE shares. Evercore ISI lifted their price objective on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank assumed coverage on shares of CubeSmart in a report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price objective on the stock. Barclays dropped their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Truist Financial raised their price target on shares of CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada reduced their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus target price of $51.45.

CubeSmart Stock Up 0.8 %

Shares of CUBE opened at $48.71 on Friday. CubeSmart has a one year low of $38.29 and a one year high of $55.14. The firm has a 50 day simple moving average of $50.32 and a two-hundred day simple moving average of $47.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $11.02 billion, a P/E ratio of 27.52, a P/E/G ratio of 13.75 and a beta of 0.84.

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. Research analysts forecast that CubeSmart will post 2.64 EPS 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.