Bank of Montreal Can Buys 1,521 Shares of CubeSmart $CUBE

Bank of Montreal Can raised its stake in shares of CubeSmart (NYSE:CUBE) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,236 shares of the real estate investment trust’s stock after purchasing an additional 1,521 shares during the quarter. Bank of Montreal Can’s holdings in CubeSmart were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allworth Financial LP raised its position in shares of CubeSmart by 115.2% during the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 501 shares in the last quarter. Covestor Ltd increased its stake in CubeSmart by 22.8% in the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 292 shares during the last quarter. Hantz Financial Services Inc. raised its position in CubeSmart by 1,776.1% during the second quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,563 shares in the last quarter. Signaturefd LLC lifted its stake in CubeSmart by 82.8% during the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 761 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of CubeSmart by 737.2% in the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 1,349 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

CUBE stock opened at $36.89 on Thursday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 8.91 and a beta of 0.99. The firm’s 50-day moving average price is $40.17 and its two-hundred day moving average price is $41.11. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.69.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The business had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. During the same quarter last year, the business posted $0.67 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CUBE. Wall Street Zen raised CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday. Evercore ISI reduced their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Barclays lowered their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Royal Bank Of Canada cut their price objective on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.94.

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.