CubeSmart (NYSE:CUBE) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in CubeSmart (NYSE:CUBE) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,525 shares of the real estate investment trust’s stock after selling 1,119 shares during the quarter. Los Angeles Capital Management LLC’s holdings in CubeSmart were worth $2,379,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in CubeSmart during the 3rd quarter worth about $33,000. Blue Trust Inc. boosted its stake in shares of 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. Versant Capital Management Inc grew its holdings in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares in the last quarter. UMB Bank n.a. raised its position in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of CubeSmart in the third quarter valued at approximately $59,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE CUBE opened at $42.51 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The firm has a market capitalization of $9.61 billion, a P/E ratio of 24.01, a P/E/G ratio of 11.58 and a beta of 0.87. The business’s 50-day simple moving average is $41.88 and its 200-day simple moving average is $47.08.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.89%. CubeSmart’s dividend payout ratio (DPR) is 117.51%.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank lowered their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.18.

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.