Syntax Research Inc. Increases Position in CubeSmart (NYSE:CUBE)

Syntax Research Inc. boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 2,445.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,412 shares of the real estate investment trust’s stock after acquiring an additional 10,003 shares during the period. Syntax Research Inc.’s holdings in CubeSmart were worth $446,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CUBE. Versant Capital Management Inc grew its stake in CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 673 shares in the last quarter. Blue Trust Inc. grew its stake in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp grew its stake in CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Stock Performance

Shares of CUBE stock opened at $41.62 on Monday. The firm’s 50 day moving average price is $41.81 and its 200-day moving average price is $46.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The firm 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.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, equities research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

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.