Knights of Columbus Asset Advisors LLC Makes New Investment in CubeSmart (NYSE:CUBE)

Knights of Columbus Asset Advisors LLC bought a new position in shares of CubeSmart (NYSE:CUBE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 68,893 shares of the real estate investment trust’s stock, valued at approximately $2,952,000.

A number of other large investors also recently bought and sold shares of the company. Quarry LP lifted its holdings in CubeSmart by 19.8% during the 3rd quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 227 shares during the last quarter. HighTower Advisors LLC lifted its holdings in CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after buying an additional 243 shares during the last quarter. Captrust Financial Advisors lifted its holdings in CubeSmart by 4.5% during the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 248 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 buying an additional 289 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in CubeSmart by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust’s stock worth $2,280,000 after buying an additional 306 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $52.00 to $46.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $48.00.

CubeSmart Stock Down 1.1 %

CUBE opened at $41.62 on Friday. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The stock has a market cap of $9.49 billion, a P/E ratio of 23.52, a P/E/G ratio of 11.58 and a beta of 0.88. The stock’s 50 day moving average price is $41.81 and its 200 day moving average price is $46.14. 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 (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. As a group, research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

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.