Versant Capital Management Inc Has $29,000 Stock Holdings in CubeSmart (NYSE:CUBE)

Versant Capital Management Inc increased its holdings in shares of CubeSmart (NYSE:CUBE) by 9,614.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 680 shares of the real estate investment trust’s stock after purchasing an additional 673 shares during the period. Versant Capital Management Inc’s holdings in CubeSmart were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CUBE. Quarry LP grew its position in shares of CubeSmart by 19.8% during the 3rd quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 227 shares during the period. CIBC Asset Management Inc grew its holdings in CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 233 shares during the period. HighTower Advisors LLC increased its stake in CubeSmart by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 243 shares in the last quarter. Mirador Capital Partners LP raised its holdings in shares of CubeSmart by 1.6% during the third quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 248 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of CubeSmart by 4.5% during the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 248 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CUBE. Barclays decreased their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company upped their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Scotiabank reduced their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Evercore ISI boosted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, UBS Group lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.91.

CubeSmart Stock Up 0.5 %

CubeSmart stock opened at $41.58 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market cap of $9.40 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm’s 50-day simple moving average is $46.43 and its 200 day simple moving average is $48.38.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. Research analysts predict that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.52 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio is currently 117.51%.

About CubeSmart

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.