CubeSmart (NYSE:CUBE) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC boosted its position in shares of CubeSmart (NYSE:CUBE) by 4.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,044 shares of the real estate investment trust’s stock after acquiring an additional 433 shares during the period. Carmel Capital Partners LLC’s holdings in CubeSmart were worth $430,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CubeSmart by 326.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after buying an additional 1,282,995 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CubeSmart in the 4th quarter valued at $21,278,000. SG Americas Securities LLC raised its position in CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after purchasing an additional 484,049 shares during the last quarter. Presima Securities ULC raised its position in CubeSmart by 4,092.4% in the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after purchasing an additional 433,790 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in CubeSmart by 6.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock valued at $144,320,000 after purchasing an additional 191,862 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CUBE. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and reduced their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Wells Fargo & Company dropped their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Barclays dropped their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $48.18.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $42.48 on Thursday. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 24.00, a PEG 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 $41.81 and its 200 day moving average price is $46.92. 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 issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.90%. CubeSmart’s dividend payout ratio (DPR) is 120.93%.

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.