Edgestream Partners L.P. Has $8.06 Million Stock Holdings in CubeSmart (NYSE:CUBE)

Edgestream Partners L.P. boosted its stake in CubeSmart (NYSE:CUBE) by 86.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 149,813 shares of the real estate investment trust’s stock after buying an additional 69,408 shares during the period. CubeSmart makes up 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 26th largest holding. Edgestream Partners L.P. owned 0.07% of CubeSmart worth $8,064,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBE. 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 worth $39,947,000 after buying an additional 23,179 shares during the period. PGGM Investments increased its position in CubeSmart by 7.3% during the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock worth $39,242,000 after acquiring an additional 59,020 shares during the period. Gateway Investment Advisers LLC raised its stake in CubeSmart by 52.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 358,286 shares of the real estate investment trust’s stock worth $16,184,000 after purchasing an additional 123,464 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in CubeSmart by 292.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,538 shares of the real estate investment trust’s stock valued at $657,000 after purchasing an additional 10,835 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CubeSmart by 19.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 125,672 shares of the real estate investment trust’s stock worth $5,593,000 after purchasing an additional 20,077 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

CubeSmart stock opened at $49.55 on Friday. The stock has a 50-day moving average price of $49.88 and a two-hundred day moving average price of $48.00. CubeSmart has a 12 month low of $39.52 and a 12 month high of $55.14. The company has a market capitalization of $11.21 billion, a PE ratio of 27.99, a P/E/G ratio of 14.08 and a beta of 0.84. 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 issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million during 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 quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. Analysts expect that CubeSmart will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CUBE. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Scotiabank dropped 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. Jefferies Financial Group increased their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company increased their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $51.36.

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.