CubeSmart (NYSE:CUBE) Stock Position Boosted by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its stake in CubeSmart (NYSE:CUBE) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,022 shares of the real estate investment trust’s stock after acquiring an additional 4,514 shares during the period. Cullen Frost Bankers Inc.’s holdings in CubeSmart were worth $4,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of CubeSmart by 0.9% in the fourth quarter. Arizona State Retirement System now owns 65,357 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 577 shares during the period. Proficio Capital Partners LLC acquired a new stake in CubeSmart in the 4th quarter valued at about $619,000. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of CubeSmart by 6.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock valued at $144,320,000 after purchasing an additional 191,862 shares in the last quarter. Keybank National Association OH grew its stake in shares of CubeSmart by 2.4% in the 4th quarter. Keybank National Association OH now owns 627,917 shares of the real estate investment trust’s stock worth $26,906,000 after purchasing an additional 14,580 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CubeSmart by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,124,707 shares of the real estate investment trust’s stock worth $133,894,000 after purchasing an additional 91,822 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $42.24 on Friday. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The business’s 50-day moving average price is $41.80 and its two-hundred day moving average price is $46.89. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $9.62 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last released 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 firm had revenue of $231.41 million for 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%. Analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s payout ratio is presently 120.93%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CUBE shares. Royal Bank of Canada reduced their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays cut their price objective on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.08.

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.