Virtu Financial LLC Makes New Investment in CubeSmart (NYSE:CUBE)

Virtu Financial LLC bought a new stake in CubeSmart (NYSE:CUBE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,523 shares of the real estate investment trust’s stock, valued at approximately $566,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in CubeSmart by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after purchasing an additional 624,661 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CubeSmart by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after buying an additional 50,340 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of CubeSmart by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after acquiring an additional 169,600 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in CubeSmart by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after acquiring an additional 135,211 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in CubeSmart by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after acquiring an additional 303,347 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $46.27 on Friday. 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 firm has a market cap of $10.46 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 13.00 and a beta of 0.84. The business has a 50-day simple moving average of $48.67 and a two-hundred day simple moving average of $48.40. 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 quarterly earnings data 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). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts expect that CubeSmart will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

CUBE has been the subject of several recent research reports. Royal Bank of Canada lowered their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Wells Fargo & Company increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Barclays lowered their price target on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research 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 company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CubeSmart presently has an average rating of “Hold” and an average 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.