Chiron Investment Management LLC Purchases New Shares in CubeSmart (NYSE:CUBE)

Chiron Investment Management LLC bought a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,472 shares of the real estate investment trust’s stock, valued at approximately $618,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. raised its position in CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 323 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in CubeSmart during the 2nd quarter worth about $33,000. Peterson Financial Group Inc. acquired a new position in CubeSmart during the 3rd quarter valued at about $33,000. Finally, Quarry LP boosted its stake in shares of CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 757 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Down 1.4 %

CubeSmart stock opened at $46.90 on Wednesday. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $49.00 and a 200-day moving average of $48.35. The stock has a market capitalization of $10.61 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 13.34 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million for 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%. CubeSmart’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CUBE. Jefferies Financial Group increased their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI lifted their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Royal Bank of Canada cut their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Scotiabank decreased their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. One 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 stock. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average price target of $51.36.

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.