Lindenwold Advisors INC Buys 430 Shares of CubeSmart (NYSE:CUBE)

Lindenwold Advisors INC raised its stake in shares of CubeSmart (NYSE:CUBE) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,580 shares of the real estate investment trust’s stock after buying an additional 430 shares during the quarter. Lindenwold Advisors INC’s holdings in CubeSmart were worth $300,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in shares of CubeSmart by 3.6% during the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 233 shares in the last quarter. Mirador Capital Partners LP increased its holdings in shares of CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 248 shares in the last quarter. Covestor Ltd increased its holdings in shares of CubeSmart by 11.8% in the 1st quarter. Covestor Ltd now owns 2,637 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 278 shares in the last quarter. Presima Securities ULC raised its stake in shares of CubeSmart by 2.9% in the third quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 300 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of CubeSmart by 14.7% during the second quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 311 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CUBE. Truist Financial lifted their price objective on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Barclays decreased their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. UBS Group cut shares of 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. Finally, Scotiabank assumed coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.45.

CubeSmart Price Performance

NYSE CUBE opened at $48.63 on Tuesday. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 13.57 and a beta of 0.84. CubeSmart has a 12 month low of $38.29 and a 12 month high of $55.14. The company’s 50 day moving average is $50.61 and its two-hundred day moving average is $47.67. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate 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 net margin of 37.79% and a return on equity of 14.33%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current 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.