American Assets Capital Advisers LLC Lowers Stake in CubeSmart (NYSE:CUBE)

American Assets Capital Advisers LLC lessened its holdings in CubeSmart (NYSE:CUBE) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,766 shares of the real estate investment trust’s stock after selling 9,725 shares during the quarter. CubeSmart comprises 1.0% of American Assets Capital Advisers LLC’s portfolio, making the stock its 25th largest position. American Assets Capital Advisers LLC’s holdings in CubeSmart were worth $2,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP grew its stake in shares of CubeSmart by 19.8% in 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. CIBC Asset Management Inc grew its stake in shares of CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 233 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of CubeSmart by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after acquiring an additional 243 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of CubeSmart by 4.5% during the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 248 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in CubeSmart by 74.9% in 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 in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CUBE. Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. 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 report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Barclays lowered their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $41.72 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The firm has a 50 day moving average of $41.73 and a 200 day moving average of $46.48.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million during 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, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.99%. CubeSmart’s payout ratio 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.