CubeSmart (NYSE:CUBE) Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in shares of CubeSmart (NYSE:CUBE) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,211 shares of the real estate investment trust’s stock after selling 1,580 shares during the quarter. Atria Investments Inc’s holdings in CubeSmart were worth $395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP grew its position in 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 purchasing an additional 227 shares during the last quarter. CIBC Asset Management Inc grew its position 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 purchasing an additional 233 shares during the last quarter. HighTower Advisors LLC grew its position in CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 243 shares during the last quarter. Captrust Financial Advisors grew its position in 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 during the last quarter. Finally, Blue Trust Inc. grew its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Up 2.4 %

CUBE stock opened at $41.72 on Monday. The company has a market cap of $9.51 billion, a P/E ratio of 23.57, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company’s 50-day moving average price is $41.73 and its 200 day moving average price is $46.44. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. On average, research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s payout ratio is currently 120.93%.

Wall Street Analyst Weigh In

CUBE has been the topic of several research reports. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.00.

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.