Trillium Asset Management LLC Cuts Position in CubeSmart $CUBE

Trillium Asset Management LLC decreased its holdings in CubeSmart (NYSE:CUBE) by 4.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 89,572 shares of the real estate investment trust’s stock after selling 4,337 shares during the period. Trillium Asset Management LLC’s holdings in CubeSmart were worth $3,807,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CUBE. Allworth Financial LP raised its holdings in CubeSmart by 115.2% in the first 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 during the period. Covestor Ltd grew its position 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 in the last quarter. Hantz Financial Services Inc. grew its position in 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 valued at $70,000 after acquiring an additional 1,563 shares in the last quarter. Signaturefd LLC grew its position in CubeSmart by 82.8% in the second 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 in the last quarter. Finally, IFP Advisors Inc grew its position in CubeSmart by 737.2% in the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 1,349 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

CubeSmart stock opened at $37.70 on Thursday. The company has a market cap of $8.60 billion, a PE ratio of 22.99, a P/E/G ratio of 8.91 and a beta of 0.96. The company has a fifty day moving average price of $40.53 and a two-hundred day moving average price of $41.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $285.08 million during the quarter, compared to the consensus estimate of $282.57 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. Research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several recent research reports. Royal Bank Of Canada lowered their price objective on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday. Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Monday, October 13th. Evercore ISI lowered their price objective on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays decreased their price target on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.94.

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.