Lake Street Private Wealth LLC Raises Stake in CubeSmart (NYSE:CUBE)

Lake Street Private Wealth LLC boosted its holdings in CubeSmart (NYSE:CUBE) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,342 shares of the real estate investment trust’s stock after purchasing an additional 3,636 shares during the quarter. Lake Street Private Wealth LLC’s holdings in CubeSmart were worth $2,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirador Capital Partners LP boosted its position in shares of CubeSmart by 3.0% in the 4th quarter. Mirador Capital Partners LP now owns 16,352 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 477 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in CubeSmart by 55.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 24,940 shares of the real estate investment trust’s stock valued at $1,069,000 after buying an additional 8,873 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in CubeSmart by 15.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,167 shares of the real estate investment trust’s stock worth $350,000 after acquiring an additional 1,090 shares in the last quarter. Oak Thistle LLC grew its stake in shares of CubeSmart by 232.9% in the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after acquiring an additional 22,582 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of CubeSmart by 0.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 39,107 shares of the real estate investment trust’s stock worth $1,676,000 after acquiring an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 0.2 %

NYSE:CUBE opened at $41.41 on Friday. The company has a market cap of $9.36 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 11.06 and a beta of 0.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a 50 day simple moving average of $45.30 and a two-hundred day simple moving average of $48.11. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that CubeSmart will post 2.63 earnings per share for the current year.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.52 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio is presently 117.51%.

Wall Street Analyst Weigh In

CUBE has been the subject of several recent analyst reports. Barclays lowered their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the company from $50.00 to $47.00 in a report on Friday. Wells Fargo & Company boosted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada cut their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.73.

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.