CubeSmart (NYSE:CUBE) Stake Boosted by B&I Capital AG

B&I Capital AG lifted its stake in shares of CubeSmart (NYSE:CUBE) by 36.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,390 shares of the real estate investment trust’s stock after buying an additional 91,500 shares during the quarter. CubeSmart comprises 4.8% of B&I Capital AG’s portfolio, making the stock its 6th largest position. B&I Capital AG’s holdings in CubeSmart were worth $14,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart during the third quarter valued at about $33,000. Blue Trust Inc. increased its position in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares during the period. Jones Financial Companies Lllp increased its position in shares of CubeSmart by 134.1% during the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 389 shares during the period. Versant Capital Management Inc increased its position 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 valued at $29,000 after buying an additional 673 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in shares of CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Scotiabank dropped their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Seven 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, the company has an average rating of “Hold” and a consensus price target of $49.18.

CubeSmart Trading Down 2.9 %

Shares of NYSE CUBE opened at $41.28 on Monday. The firm’s 50 day moving average price is $41.85 and its 200-day moving average price is $47.02. The company has a market cap of $9.34 billion, a PE ratio of 23.32, a P/E/G ratio of 11.58 and a beta of 0.87. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. 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 (NYSE:CUBE) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. On average, equities research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently disclosed 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 is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.04%. CubeSmart’s dividend payout ratio (DPR) is 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.