Nicola Wealth Management LTD. Sells 65,000 Shares of CubeSmart (NYSE:CUBE)

Nicola Wealth Management LTD. lessened its position in CubeSmart (NYSE:CUBE) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,000 shares of the real estate investment trust’s stock after selling 65,000 shares during the quarter. Nicola Wealth Management LTD. owned about 0.13% of CubeSmart worth $12,384,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC increased its holdings in shares of CubeSmart by 232.9% during the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 22,582 shares during the period. Entropy Technologies LP bought a new position in shares of CubeSmart during the 4th quarter worth about $445,000. BNP Paribas Financial Markets increased its holdings in shares of CubeSmart by 32.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after purchasing an additional 39,270 shares during the period. Franklin Resources Inc. increased its holdings in shares of CubeSmart by 13.1% during the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after purchasing an additional 36,919 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of CubeSmart during the 3rd quarter worth about $628,000. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial upgraded 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 report on Friday, January 17th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday. Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Finally, Barclays decreased their target price on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Seven equities 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, CubeSmart currently has an average rating of “Hold” and an average price target of $48.73.

CubeSmart Price Performance

NYSE:CUBE opened at $42.13 on Tuesday. The firm has a market cap of $9.53 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 11.58 and a beta of 0.87. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average price is $41.84 and its two-hundred day moving average price is $46.97.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS 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%. The firm had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. On average, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio 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.