Stifel Financial Corp Grows Position in CubeSmart (NYSE:CUBE)

Stifel Financial Corp boosted its stake in shares of CubeSmart (NYSE:CUBE) by 42.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,528 shares of the real estate investment trust’s stock after buying an additional 35,074 shares during the period. Stifel Financial Corp’s holdings in CubeSmart were worth $6,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its position in CubeSmart by 2.7% during 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 buying an additional 23,179 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after purchasing an additional 39,270 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of CubeSmart by 127.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,013 shares of the real estate investment trust’s stock worth $1,777,000 after purchasing an additional 18,475 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of CubeSmart by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock worth $29,406,000 after purchasing an additional 173,683 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of CubeSmart in the 3rd quarter worth $1,452,000. Institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CUBE shares. Truist Financial lifted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group lifted their price objective on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Finally, Scotiabank cut their price objective on 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 issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and an average target price of $51.36.

CubeSmart Price Performance

NYSE CUBE opened at $46.27 on Friday. The company has a market capitalization of $10.46 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 13.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The business’s fifty day moving average is $48.67 and its 200 day moving average is $48.35. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE) last released its 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). The company had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. CubeSmart’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current 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.