CubeSmart (NYSE:CUBE) Stock Position Lessened by Mutual Advisors LLC

Mutual Advisors LLC lowered its position in shares of CubeSmart (NYSE:CUBE) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,640 shares of the real estate investment trust’s stock after selling 249 shares during the quarter. Mutual Advisors LLC’s holdings in CubeSmart were worth $276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in CubeSmart in the 3rd quarter valued at $33,000. Versant Capital Management Inc grew its holdings in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of CubeSmart during the 3rd quarter worth about $59,000. Finally, Quarry LP lifted its position 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 worth $52,000 after buying an additional 757 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Trading Down 1.8 %

Shares of NYSE:CUBE opened at $41.94 on Wednesday. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 11.20 and a beta of 0.87. The business has a 50-day moving average price of $44.34 and a 200-day moving average price of $48.00.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s payout ratio is currently 117.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUBE. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Barclays dropped their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Scotiabank decreased their target price 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.73.

CubeSmart 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.