Duff & Phelps Investment Management Co. Increases Holdings in CubeSmart (NYSE:CUBE)

Duff & Phelps Investment Management Co. increased its stake in CubeSmart (NYSE:CUBE) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,201,129 shares of the real estate investment trust’s stock after acquiring an additional 42,994 shares during the period. CubeSmart makes up approximately 1.4% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 23rd biggest position. Duff & Phelps Investment Management Co. owned 0.97% of CubeSmart worth $118,487,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings in shares of CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 323 shares during the period. UMB Bank n.a. raised 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CubeSmart in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new position in CubeSmart in the third quarter worth approximately $33,000. Finally, Quarry LP increased its holdings in CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 757 shares during the period. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their price target on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Truist Financial upped their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company lifted 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. Finally, Barclays reduced their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Stock Down 0.1 %

CubeSmart stock opened at $47.48 on Monday. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The business has a fifty day moving average price of $49.25 and a 200-day moving average price of $48.28. 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 stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 13.34 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter in the previous year, the firm posted $0.68 EPS. CubeSmart’s revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

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.