Albion Financial Group UT Has $3.71 Million Stake in CubeSmart (NYSE:CUBE)

Albion Financial Group UT cut its stake in shares of CubeSmart (NYSE:CUBE) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,664 shares of the real estate investment trust’s stock after selling 2,593 shares during the quarter. Albion Financial Group UT’s holdings in CubeSmart were worth $3,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $90,229,000 after purchasing an additional 1,282,995 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after acquiring an additional 624,661 shares in the last quarter. Sei Investments Co. lifted its position in shares of CubeSmart by 38.2% during the 2nd quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock valued at $34,427,000 after acquiring an additional 210,871 shares during the period. Victory Capital Management Inc. lifted its position in shares of CubeSmart by 46.6% during the 3rd quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock valued at $29,406,000 after acquiring an additional 173,683 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in CubeSmart by 4,545.2% during the second quarter. Squarepoint Ops LLC now owns 156,728 shares of the real estate investment trust’s stock worth $7,079,000 after acquiring an additional 153,354 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Up 0.3 %

CubeSmart stock opened at $41.47 on Wednesday. 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 stock has a market cap of $9.38 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 11.38 and a beta of 0.87. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm’s 50-day simple moving average is $45.03 and its 200 day simple moving average is $48.12.

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

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, January 2nd. CubeSmart’s payout ratio is presently 117.51%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Barclays lowered their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Scotiabank reduced their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada lowered their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CubeSmart has a consensus rating of “Hold” and an average price target 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.