CubeSmart (NYSE:CUBE) Shares Bought by Lindenwold Advisors INC

Lindenwold Advisors INC grew its position in CubeSmart (NYSE:CUBE) by 84.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,318 shares of the real estate investment trust’s stock after purchasing an additional 4,738 shares during the quarter. Lindenwold Advisors INC’s holdings in CubeSmart were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock valued at $90,229,000 after purchasing an additional 1,282,995 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CubeSmart during the 4th quarter worth approximately $21,278,000. SG Americas Securities LLC boosted its holdings in shares of CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after buying an additional 484,049 shares in the last quarter. Presima Securities ULC grew its position in shares of CubeSmart by 4,092.4% in the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after buying an additional 433,790 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in CubeSmart by 6.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock worth $144,320,000 after acquiring an additional 191,862 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.4 %

Shares of NYSE:CUBE opened at $42.28 on Wednesday. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week 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 firm’s 50-day simple moving average is $41.75 and its 200-day simple moving average is $46.31. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating 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 return on equity of 14.33% and a net margin of 37.79%. As a group, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. CubeSmart’s payout ratio is currently 120.93%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CUBE shares. Wells Fargo & Company decreased their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Barclays decreased their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Finally, Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and an average target price of $48.00.

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.