What Makes CubeSmart (CUBE) an Attractive Investment?

Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The overweight exposure to the financials sector led the strategy to underperform the Russell Midcap Index in the quarter while industrials and select energy holdings contributed to the relative performance. The strategy returned -2.00% compared to the Russell Midcap Index’s 4.06% return. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.

Diamond Hill Mid Cap Strategy highlighted stocks like CubeSmart (NYSE:CUBE) in the first quarter 2023 investor letter. CubeSmart (NYSE:CUBE) is a real estate investment trust that offers affordable, easily accessible, and secure storage spaces. On May 16, 2023, CubeSmart (NYSE:CUBE) stock closed at $45.26 per share. One-month return of CubeSmart (NYSE:CUBE) was -2.06%, and its shares gained 10.20% of their value over the last 52 weeks. CubeSmart (NYSE:CUBE) has a market capitalization of $10.233 billion.

Diamond Hill Mid Cap Strategy made the following comment about CubeSmart (NYSE:CUBE) in its Q1 2023 investor letter:

“Other top contributors included CubeSmart (NYSE:CUBE), Red Rock Resorts and NVR. Storage company CubeSmart is growing steadily in what we believe to be one of the real estate sector’s best quality businesses (i.e., storage).”

CubeSmart (NYSE:CUBE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held CubeSmart (NYSE:CUBE) at the end of the fourth quarter which was 24 in the previous quarter.

We discussed CubeSmart (NYSE:CUBE) in another article and shared the list of stocks recently downgraded by analysts. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.