D.A. Davidson & CO. Buys 867 Shares of CubeSmart (NYSE:CUBE)

D.A. Davidson & CO. increased its holdings in shares of CubeSmart (NYSE:CUBE) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,448 shares of the real estate investment trust’s stock after buying an additional 867 shares during the period. D.A. Davidson & CO.’s holdings in CubeSmart were worth $576,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC boosted its position in CubeSmart by 232.9% during the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after buying an additional 22,582 shares during the period. Entropy Technologies LP acquired a new stake in CubeSmart during the 4th quarter worth approximately $445,000. BNP Paribas Financial Markets boosted its position in CubeSmart by 32.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after buying an additional 39,270 shares during the period. Franklin Resources Inc. boosted its position in CubeSmart by 13.1% during the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after buying an additional 36,919 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in CubeSmart during the 3rd quarter worth approximately $628,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CUBE. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their price target for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Scotiabank dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.18.

CubeSmart Stock Up 2.7 %

CubeSmart stock opened at $43.26 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The firm’s fifty day moving average is $41.89 and its 200 day moving average is $47.15. The company has a market capitalization of $9.78 billion, a PE ratio of 24.44, a PEG ratio of 11.58 and a beta of 0.87.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend yield of 4.81%. CubeSmart’s payout ratio is presently 117.51%.

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.