New Age Alpha Advisors LLC Invests $7.15 Million in CubeSmart (NYSE:CUBE)

New Age Alpha Advisors LLC purchased a new position in shares of CubeSmart (NYSE:CUBE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 166,911 shares of the real estate investment trust’s stock, valued at approximately $7,152,000. New Age Alpha Advisors LLC owned about 0.07% of CubeSmart as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CUBE. Versant Capital Management Inc increased its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. increased its holdings 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 buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 389 shares during the period. SRS Capital Advisors Inc. lifted its holdings in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares during the last quarter. Finally, UMB Bank n.a. grew its position in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 351 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 0.4 %

NYSE:CUBE opened at $41.64 on Friday. The stock has a fifty day moving average price of $41.87 and a 200 day moving average price of $45.90. 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 cap of $9.49 billion, a PE ratio of 23.52, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid 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 5.00%. CubeSmart’s payout ratio is currently 120.93%.

Analyst Upgrades and Downgrades

CUBE has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. 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 note on Wednesday, March 5th. Finally, Barclays lowered their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.00.

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.