Stevens Capital Management LP Has $1.16 Million Stake in CubeSmart (CUBE)

Stevens Capital Management LP grew its stake in CubeSmart (NYSE:CUBE) by 198.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,492 shares of the real estate investment trust’s stock after buying an additional 26,944 shares during the quarter. Stevens Capital Management LP’s holdings in CubeSmart were worth $1,155,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CubeSmart by 3.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,915 shares of the real estate investment trust’s stock valued at $1,681,000 after purchasing an additional 1,763 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of CubeSmart by 14.0% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 24,434 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 3,000 shares in the last quarter. Swiss National Bank increased its stake in shares of CubeSmart by 1.1% in the 2nd quarter. Swiss National Bank now owns 317,300 shares of the real estate investment trust’s stock valued at $10,223,000 after purchasing an additional 3,400 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of CubeSmart by 18.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,537 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 3,604 shares in the last quarter. Finally, Sun Life Financial INC purchased a new position in shares of CubeSmart in the 2nd quarter valued at about $118,000.

NYSE:CUBE opened at $32.39 on Friday. CubeSmart has a 12 month low of $25.22 and a 12 month 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 company has a market cap of $5.85 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 3.85 and a beta of 0.11.

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

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

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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 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.

Further Reading: Google Finance Portfolio

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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