Janus Henderson Group PLC increased its stake in shares of CubeSmart (NYSE:CUBE) by 241.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 741,319 shares of the real estate investment trust’s stock after purchasing an additional 524,231 shares during the period. Janus Henderson Group PLC’s holdings in CubeSmart were worth $21,148,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in CubeSmart by 4.1% during the 2nd quarter. BlackRock Inc. now owns 13,629,625 shares of the real estate investment trust’s stock worth $439,146,000 after buying an additional 537,665 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in CubeSmart by 170.7% during the 3rd quarter. Alliancebernstein L.P. now owns 9,565,516 shares of the real estate investment trust’s stock worth $272,904,000 after buying an additional 6,031,338 shares during the last quarter. Cbre Clarion Securities LLC lifted its holdings in CubeSmart by 11.5% during the 2nd quarter. Cbre Clarion Securities LLC now owns 8,474,692 shares of the real estate investment trust’s stock worth $273,055,000 after buying an additional 875,279 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CubeSmart by 77.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock worth $111,561,000 after buying an additional 1,707,863 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in CubeSmart by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,807,221 shares of the real estate investment trust’s stock worth $90,451,000 after buying an additional 16,281 shares during the last quarter.
CubeSmart 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 quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.85 billion, a PE ratio of 20.37, a PEG ratio of 3.85 and a beta of 0.11.
CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.18). CubeSmart had a net margin of 26.43% and a return on equity of 9.34%. The firm had revenue of $153.37 million during the quarter, compared to analysts’ expectations of $150.76 million. On average, equities research analysts expect that CubeSmart will post 1.64 EPS for the current year.
A number of analysts have issued reports on CUBE shares. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target for the company in a report on Thursday, November 15th. ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Citigroup decreased their price target on CubeSmart from $33.00 to $29.00 and set a “hold” rating for the company in a report on Friday, October 5th. Zacks Investment Research raised CubeSmart from a “sell” rating to a “hold” rating in a report 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 report 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 company’s stock. CubeSmart presently has an average rating of “Buy” and an average price target of $31.91.
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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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