CubeSmart (CUBE) Stake Lessened by Highbridge Capital Management LLC

Highbridge Capital Management LLC trimmed its holdings in CubeSmart (NYSE:CUBE) by 18.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,206 shares of the real estate investment trust’s stock after selling 30,000 shares during the quarter. Highbridge Capital Management LLC owned about 0.07% of CubeSmart worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sun Life Financial INC acquired a new position in shares of CubeSmart in the 2nd quarter valued at about $118,000. Contravisory Investment Management Inc. acquired a new position in CubeSmart during the 3rd quarter worth approximately $125,000. Centaurus Financial Inc. acquired a new position in CubeSmart during the 2nd quarter worth approximately $154,000. PNC Financial Services Group Inc. raised its stake in CubeSmart by 198.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 3,686 shares during the period. Finally, First Hawaiian Bank acquired a new position in CubeSmart during the 3rd quarter worth approximately $199,000.

A number of research firms recently weighed in on CUBE. ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Evercore ISI raised CubeSmart from an “in-line” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Monday, September 10th. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target on the stock in a research note on Thursday, November 15th. Zacks Investment Research raised CubeSmart from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 price target on shares of CubeSmart in a research note on Thursday, October 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $31.91.

CUBE stock opened at $32.39 on Friday. CubeSmart has a fifty-two week low of $25.22 and a fifty-two week high of $33.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market cap of $5.85 billion, a P/E ratio of 20.37, a PEG ratio of 3.85 and a beta of 0.11.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.18). The firm had revenue of $153.37 million for the quarter, compared to analyst estimates of $150.76 million. CubeSmart had a return on equity of 9.34% and a net margin of 26.43%. On average, equities research analysts forecast that CubeSmart will post 1.64 earnings per share for the current year.

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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 secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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