Transcendent Capital Group LLC Purchases Shares of 6,258 CubeSmart (NYSE:CUBE)

Transcendent Capital Group LLC purchased a new position in CubeSmart (NYSE:CUBE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,258 shares of the real estate investment trust’s stock, valued at approximately $337,000.

A number of other large investors have also modified their holdings of CUBE. Janus Henderson Group PLC raised its stake in CubeSmart by 1,575.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock worth $82,277,000 after acquiring an additional 1,711,762 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of CubeSmart by 26.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after purchasing an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after purchasing an additional 624,661 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after buying an additional 303,347 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in CubeSmart by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock worth $1,443,316,000 after buying an additional 274,493 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 2.4 %

Shares of CUBE stock opened at $48.88 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.03. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 8.93 and a beta of 0.84. CubeSmart has a 1-year low of $35.69 and a 1-year high of $55.14. The stock has a 50 day simple moving average of $51.01 and a 200-day simple moving average of $47.33.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CUBE. 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. Barclays decreased their price objective on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Scotiabank initiated coverage on CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price target for the company. Royal Bank of Canada decreased their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Evercore ISI raised their price objective on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One 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. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and an average target price of $51.45.

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.