GAMMA Investing LLC Reduces Stock Position in CubeSmart (NYSE:CUBE)

GAMMA Investing LLC cut its holdings in CubeSmart (NYSE:CUBE) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924 shares of the real estate investment trust’s stock after selling 451 shares during the period. GAMMA Investing LLC’s holdings in CubeSmart were worth $82,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CUBE. Wells Fargo & Company lifted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their target price for the company from $46.00 to $45.00 in a report on Friday. Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Evercore ISI increased their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Barclays lowered their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.36.

CubeSmart Trading Down 2.8 %

Shares of CUBE stock opened at $40.17 on Friday. The business’s fifty day moving average price is $46.02 and its 200 day moving average price is $48.27. The firm has a market capitalization of $9.08 billion, a PE ratio of 22.70, a P/E/G ratio of 13.00 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly 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). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CubeSmart will post 2.63 EPS for the current fiscal year.

CubeSmart Increases Dividend

The business also recently declared 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 represents a $2.08 dividend on an annualized basis and a dividend yield of 5.18%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is presently 117.51%.

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, 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.