EP Wealth Advisors LLC Makes New $470,000 Investment in CubeSmart (NYSE:CUBE)

EP Wealth Advisors LLC bought a new position in CubeSmart (NYSE:CUBE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,740 shares of the real estate investment trust’s stock, valued at approximately $470,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. increased its position 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 acquiring an additional 323 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 444 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the third quarter worth $33,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CubeSmart in the second quarter worth $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of CubeSmart in the third quarter worth $59,000. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their target price 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. Evercore ISI upped their target price on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Barclays decreased their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Jefferies Financial Group increased their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.36.

CubeSmart Stock Performance

CubeSmart stock opened at $46.43 on Friday. 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 has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a market cap of $10.50 billion, a PE ratio of 26.23, a PEG ratio of 13.17 and a beta of 0.84. The company’s 50-day moving average is $48.77 and its two-hundred day moving average is $48.32.

CubeSmart (NYSE:CUBE) last announced 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). The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities 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.