Campbell & CO Investment Adviser LLC Sells 13,441 Shares of CubeSmart $CUBE

Campbell & CO Investment Adviser LLC lessened its holdings in CubeSmart (NYSE:CUBE) by 39.6% during the second quarter, HoldingsChannel.com reports. The fund owned 20,504 shares of the real estate investment trust’s stock after selling 13,441 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in CubeSmart were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Securian Asset Management Inc. boosted its stake in shares of CubeSmart by 1.5% in the 2nd quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock valued at $738,000 after purchasing an additional 264 shares in the last quarter. Moran Wealth Management LLC lifted its stake in CubeSmart by 0.9% in the 2nd quarter. Moran Wealth Management LLC now owns 31,522 shares of the real estate investment trust’s stock valued at $1,340,000 after purchasing an additional 270 shares during the last quarter. Covestor Ltd boosted 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 buying an additional 292 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of CubeSmart by 0.5% during the first quarter. UniSuper Management Pty Ltd now owns 63,200 shares of the real estate investment trust’s stock worth $2,699,000 after buying an additional 300 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of CubeSmart by 6.2% during the first quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 316 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

CubeSmart stock opened at $36.59 on Friday. The stock’s 50 day moving average is $40.08 and its 200 day moving average is $41.08. CubeSmart has a one year low of $34.24 and a one year high of $50.69. The firm has a market cap of $8.34 billion, a P/E ratio of 22.31, a P/E/G ratio of 8.91 and a beta of 0.99. 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 (NYSE:CUBE) last released its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. As a group, research analysts expect that CubeSmart will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

CUBE has been the topic of several recent research reports. Citigroup cut their price objective on CubeSmart from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $45.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Monday, October 13th. Royal Bank Of Canada dropped their price objective on shares of CubeSmart from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Wall Street Zen raised shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CubeSmart currently has an average 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.