Fifth Third Wealth Advisors LLC Boosts Stock Position in CubeSmart (NYSE:CUBE)

Fifth Third Wealth Advisors LLC lifted its position in CubeSmart (NYSE:CUBE) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,167 shares of the real estate investment trust’s stock after purchasing an additional 1,090 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in CubeSmart were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CUBE. Versant Capital Management Inc increased its holdings in CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the period. UMB Bank n.a. increased its stake in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 444 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the third quarter worth $33,000. Quarry LP raised its holdings in shares of CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 757 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in CubeSmart during the third quarter valued at $59,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays dropped their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Scotiabank decreased their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada dropped their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.73.

CubeSmart Stock Down 0.2 %

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. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a 50-day moving average price of $45.30 and a 200 day moving average price of $48.11. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share 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 firm had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter last year, the business earned $0.68 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that CubeSmart will post 2.63 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

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

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.