LRT Capital Management LLC Boosts Stake in CubeSmart (NYSE:CUBE)

LRT Capital Management LLC lifted its stake in CubeSmart (NYSE:CUBE) by 98.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,590 shares of the real estate investment trust’s stock after purchasing an additional 18,170 shares during the quarter. CubeSmart comprises approximately 1.6% of LRT Capital Management LLC’s holdings, making the stock its 22nd largest position. LRT Capital Management LLC’s holdings in CubeSmart were worth $1,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC increased its stake in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 292 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart during the fourth quarter valued at about $37,000. Quarry LP purchased a new position in shares of CubeSmart during the second quarter valued at about $37,000. Sunbelt Securities Inc. bought a new position in shares of CubeSmart in the 1st quarter valued at about $46,000. Finally, Private Trust Co. NA lifted its holdings in shares of CubeSmart by 182.9% in the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 898 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Performance

NYSE CUBE traded up $0.19 during trading on Friday, reaching $42.05. The company’s stock had a trading volume of 868,975 shares, compared to its average volume of 1,198,815. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 23.23 and a beta of 0.69. CubeSmart has a 12 month low of $33.17 and a 12 month high of $47.81. The firm has a 50 day moving average price of $43.89 and a 200 day moving average price of $42.16.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio (DPR) is currently 112.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CUBE. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They set a “sell” rating and a $40.00 target price on the stock. Barclays assumed coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. Evercore ISI boosted their target price on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Raymond James restated an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. Finally, Wells Fargo & Company increased their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CubeSmart has an average rating of “Hold” and an average price target of $46.33.

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.