Schwab Charles Investment Management Inc. Has $63.47 Million Holdings in CubeSmart (CUBE)

Schwab Charles Investment Management Inc. raised its stake in CubeSmart (NYSE:CUBE) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,250,746 shares of the real estate investment trust’s stock after buying an additional 171,004 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.23% of CubeSmart worth $63,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in shares of CubeSmart by 121.1% in the fourth quarter. Bank of Montreal Can now owns 130,002 shares of the real estate investment trust’s stock worth $3,760,000 after acquiring an additional 71,215 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of CubeSmart by 12.4% in the fourth quarter. State of Alaska Department of Revenue now owns 110,270 shares of the real estate investment trust’s stock worth $3,187,000 after acquiring an additional 12,200 shares in the last quarter. Strs Ohio increased its holdings in shares of CubeSmart by 1.7% in the fourth quarter. Strs Ohio now owns 470,348 shares of the real estate investment trust’s stock worth $13,602,000 after acquiring an additional 7,811 shares in the last quarter. Green Street Investors LLC increased its holdings in shares of CubeSmart by 479.8% in the fourth quarter. Green Street Investors LLC now owns 402,400 shares of the real estate investment trust’s stock worth $11,637,000 after acquiring an additional 333,000 shares in the last quarter. Finally, Exane Derivatives increased its holdings in shares of CubeSmart by 1,527,700.0% in the fourth quarter. Exane Derivatives now owns 15,278 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 15,277 shares in the last quarter.

CubeSmart opened at $29.51 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.04. The stock has a market cap of $5.38 billion, a P/E ratio of 18.56, a PEG ratio of 3.47 and a beta of 0.07. CubeSmart has a 52-week low of $22.83 and a 52-week high of $30.98.



CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.20). The firm had revenue of $142.90 million for the quarter, compared to the consensus estimate of $144.05 million. CubeSmart had a return on equity of 9.00% and a net margin of 25.27%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. research analysts predict that CubeSmart will post 1.64 earnings per share for the current year.

Several equities research analysts have issued reports on CUBE shares. Cantor Fitzgerald restated a “buy” rating and issued a $31.00 price target on shares of CubeSmart in a report on Thursday, February 15th. Bank of America upgraded CubeSmart from an “underperform” rating to a “neutral” rating and set a $32.00 price target for the company in a report on Tuesday, May 8th. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. BMO Capital Markets upgraded CubeSmart from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $27.00 to $30.00 in a report on Friday, March 2nd. Finally, Jefferies Group set a $32.00 price objective on CubeSmart and gave the stock a “buy” rating in a report on Monday, March 5th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $31.00.

In other CubeSmart news, SVP Jonathan L. Perry sold 70,748 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $30.31, for a total value of $2,144,371.88. Following the completion of the transaction, the senior vice president now directly owns 70,920 shares in the company, valued at $2,149,585.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Martin sold 3,738 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $29.95, for a total value of $111,953.10. Following the completion of the transaction, the chief financial officer now owns 171,293 shares of the company’s stock, valued at $5,130,225.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 465,322 shares of company stock valued at $13,934,902. Corporate insiders own 1.26% of the company’s stock.

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 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.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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