Versor Investments LP Buys Shares of 12,505 CubeSmart (NYSE:CUBE)

Versor Investments LP purchased a new stake in CubeSmart (NYSE:CUBE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,505 shares of the real estate investment trust’s stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBE. Quarry LP grew its position in CubeSmart by 19.8% in the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 227 shares during the period. CIBC Asset Management Inc lifted its stake in shares of CubeSmart by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of 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 purchasing an additional 243 shares during the period. Captrust Financial Advisors grew its holdings in shares of 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 purchasing an additional 248 shares during the period. Finally, Blue Trust Inc. increased its position 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. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

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

CubeSmart Trading Down 2.9 %

CUBE opened at $41.28 on Friday. The business has a fifty day moving average price of $41.85 and a 200 day moving average price of $47.03. 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 12 month low of $39.80 and a 12 month high of $55.14. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 11.58 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. Sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.04%. CubeSmart’s dividend payout ratio (DPR) is currently 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.