Metis Global Partners LLC Boosts Stake in CubeSmart $CUBE

Metis Global Partners LLC raised its position in CubeSmart (NYSE:CUBE) by 31.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,760 shares of the real estate investment trust’s stock after purchasing an additional 9,119 shares during the quarter. Metis Global Partners LLC’s holdings in CubeSmart were worth $1,605,000 at the end of the most recent quarter.

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

CubeSmart Trading Down 2.5%

Shares of CUBE opened at $36.60 on Tuesday. CubeSmart has a one year low of $34.24 and a one year high of $50.69. The stock has a 50-day moving average price of $40.30 and a 200 day moving average price of $41.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $8.35 billion, a P/E ratio of 22.32, a P/E/G ratio of 8.91 and a beta of 0.99.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.CubeSmart’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CUBE shares. Citigroup decreased their price target on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, August 25th. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research report on Monday. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada reduced their price target on CubeSmart from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, UBS Group decreased their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.94.

CubeSmart Company 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.