Duff Phelps Investment Management Co buys $65,668,665 stake in CubeSmart (CUBE)

CubeSmart (CUBE) : Duff Phelps Investment Management Co scooped up 1,162,905 additional shares in CubeSmart during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 2,511,230 shares of CubeSmart which is valued at $65,668,665.CubeSmart makes up approximately 0.95% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in CUBE in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 347 shares of CubeSmart which is valued at $9,126.Eagle Asset Management Inc boosted its stake in CUBE in the latest quarter, The investment management firm added 101,171 additional shares and now holds a total of 1,729,069 shares of CubeSmart which is valued at $44,834,759. CubeSmart makes up approx 0.31% of Eagle Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CUBE by selling 506 shares or 1.88% in the most recent quarter. The Hedge Fund company now holds 26,371 shares of CUBE which is valued at $681,954.

CubeSmart closed down -0.15 points or -0.57% at $26.15 with 19,50,900 shares getting traded on Friday. Post opening the session at $26.33, the shares hit an intraday low of $26.12 and an intraday high of $26.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, CubeSmart reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.35. The company had revenue of $126.53 million for the quarter, compared to analysts expectations of $125.04 million. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on CubeSmart. CubeSmart was Downgraded by SunTrust to ” Neutral” on Jul 25, 2016.

CubeSmart is a self-administered and self-managed real estate company focused primarily on the ownership operation management acquisition and development of self-storage facilities in the United States. The Company’s self-storage facilities offer storage space for its residential and commercial customers with features such as wide aisles and loadbearing capabilities for large truck access. As of December 31 2014 the Company owned 421 self-storage facilities located in 22 states of the United States and in the District of Columbia containing an aggregate of approximately 28.6 million rentable square feet. As of December 31 2014 the Company managed 174 facilities for third parties (including 35 facilities containing an aggregate of approximately 2.4 million rentable square feet as part of an unconsolidated real estate venture in which it owns a 50% interest).

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