CubeSmart (NYSE:CUBE) Shares Bought by Oak Thistle LLC

Oak Thistle LLC raised its position in CubeSmart (NYSE:CUBE) by 232.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,280 shares of the real estate investment trust’s stock after acquiring an additional 22,582 shares during the period. Oak Thistle LLC’s holdings in CubeSmart were worth $1,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP grew its holdings in CubeSmart by 19.8% during the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 227 shares during the period. CIBC Asset Management Inc grew its stake in shares of CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 233 shares during the period. HighTower Advisors LLC grew its stake in shares of CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 243 shares during the period. Mirador Capital Partners LP increased its holdings in shares of CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock valued at $855,000 after purchasing an additional 248 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of CubeSmart by 4.5% in the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CUBE shares. Wells Fargo & Company upped their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Royal Bank of Canada lowered their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Scotiabank cut their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Finally, Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.00.

CubeSmart Stock Up 0.6 %

CUBE stock opened at $40.68 on Wednesday. The company has a 50 day moving average price of $45.87 and a two-hundred day moving average price 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. The stock has a market capitalization of $9.20 billion, a P/E ratio of 22.98, a PEG ratio of 13.00 and a beta of 0.87. CubeSmart has a one year low of $39.80 and a one year high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly 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). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter last year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 5.11%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio (DPR) is currently 117.51%.

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.