Cornercap Investment Counsel Inc. Acquires 1,180 Shares of CubeSmart (NYSE:CUBE)

Cornercap Investment Counsel Inc. boosted its holdings in CubeSmart (NYSE:CUBE) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,209 shares of the real estate investment trust’s stock after acquiring an additional 1,180 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in CubeSmart were worth $819,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. boosted its holdings in shares of CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. boosted its holdings in CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in CubeSmart during the 2nd quarter valued at about $33,000. Quarry LP boosted its holdings in CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its holdings in CubeSmart by 8,906.3% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,441 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 1,425 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Up 0.8 %

Shares of CUBE stock opened at $48.33 on Friday. CubeSmart has a 12-month low of $38.29 and a 12-month high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock’s 50-day moving average price is $50.68 and its 200-day moving average price is $47.52. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 13.46 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CUBE shares. Wells Fargo & Company upped their price target on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group upped their price target on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. Royal Bank of Canada lowered their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Truist Financial increased their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.45.

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.