CubeSmart (NYSE:CUBE) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. trimmed its holdings in CubeSmart (NYSE:CUBE) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,093 shares of the real estate investment trust’s stock after selling 8,690 shares during the period. 1834 Investment Advisors Co.’s holdings in CubeSmart were worth $6,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in CubeSmart during the 1st quarter worth approximately $26,000. Mather Group LLC. acquired a new position in shares of CubeSmart during the first quarter worth $26,000. GAMMA Investing LLC purchased a new position in shares of CubeSmart in the fourth quarter valued at $28,000. Signaturefd LLC grew its holdings in CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in CubeSmart during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE traded up $0.32 during trading hours on Friday, hitting $44.57. 797,322 shares of the stock were exchanged, compared to its average volume of 1,058,723. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The firm has a market capitalization of $10.03 billion, a P/E ratio of 24.76, a P/E/G ratio of 7.64 and a beta of 0.80. The company’s 50 day moving average is $43.15 and its 200 day moving average is $43.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The company had revenue of $261.41 million for the quarter, compared to the consensus estimate of $253.91 million. During the same period last year, the firm posted $0.65 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, July 1st. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Raymond James restated an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research note on Thursday, March 28th. Wells Fargo & Company lifted their price objective on CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Finally, Barclays started coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.00.

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.