UMB Bank n.a. Grows Position in CubeSmart (NYSE:CUBE)

UMB Bank n.a. increased its stake in CubeSmart (NYSE:CUBE) by 59.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942 shares of the real estate investment trust’s stock after purchasing an additional 351 shares during the period. UMB Bank n.a.’s holdings in CubeSmart were worth $40,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CUBE. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at about $33,000. Versant Capital Management Inc raised its stake in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of CubeSmart in the 3rd quarter valued at $59,000. Quarry LP grew its holdings in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 757 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in CubeSmart by 3,130.6% in the third quarter. Loomis Sayles & Co. L P now owns 1,163 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,127 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Price Performance

Shares of CUBE opened at $41.70 on Friday. 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 firm’s 50-day simple moving average is $44.60 and its two-hundred day simple moving average is $48.03. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The stock has a market cap of $9.43 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 11.20 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s payout ratio is presently 117.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CUBE shares. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and cut their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Wells Fargo & Company upped their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Scotiabank reduced their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.73.

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.