Sumitomo Mitsui Trust Group Inc. Cuts Position in CubeSmart $CUBE

Sumitomo Mitsui Trust Group Inc. lessened its stake in CubeSmart (NYSE:CUBE) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 764,598 shares of the real estate investment trust’s stock after selling 43,842 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.34% of CubeSmart worth $32,495,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CUBE. Allworth Financial LP raised its holdings in shares of CubeSmart by 115.2% in 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 during the period. Covestor Ltd raised its holdings in shares of CubeSmart by 22.8% in the 1st quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 292 shares during the period. Signaturefd LLC raised its holdings 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 worth $71,000 after purchasing an additional 761 shares during the period. IFP Advisors Inc raised 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 during the period. Finally, CWM LLC raised its holdings in shares of CubeSmart by 23.5% in the 1st quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 371 shares during the period. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft set a $45.00 target price on shares of CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Citigroup lowered their target price on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Royal Bank Of Canada lowered their target price on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, August 4th. Finally, Barclays lowered their target price on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.06.

CubeSmart Stock Performance

NYSE CUBE opened at $41.31 on Wednesday. The company has a 50-day simple moving average of $40.80 and a two-hundred day simple moving average of $41.22. The company has a quick ratio of 0.06, a current 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. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 9.27 and a beta of 0.96.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, equities analysts forecast that CubeSmart will post 2.64 EPS for the current year.

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.