Pallas Capital Advisors LLC Has $1.68 Million Stock Position in CubeSmart (NYSE:CUBE)

Pallas Capital Advisors LLC grew its stake in CubeSmart (NYSE:CUBE) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,107 shares of the real estate investment trust’s stock after buying an additional 361 shares during the quarter. Pallas Capital Advisors LLC’s holdings in CubeSmart were worth $1,676,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after acquiring an additional 624,661 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CubeSmart by 1.1% during the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after purchasing an additional 50,340 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CubeSmart by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after purchasing an additional 169,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in CubeSmart by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in CubeSmart by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after buying an additional 303,347 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

CUBE has been the topic of a number of recent research reports. Evercore ISI lifted their target price on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Friday. Wells Fargo & Company raised their target price on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Scotiabank decreased their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

CubeSmart Stock Performance

Shares of CUBE stock opened at $40.45 on Tuesday. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 13.00 and a beta of 0.87. The company has a 50-day simple moving average of $45.87 and a 200 day simple moving average of $48.26. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its earnings results 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). The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. CubeSmart’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, sell-side analysts predict that CubeSmart will post 2.63 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.14%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio (DPR) is currently 117.51%.

CubeSmart Company 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.