Mirador Capital Partners LP Purchases 782 Shares of CubeSmart (NYSE:CUBE)

Mirador Capital Partners LP lifted its position in CubeSmart (NYSE:CUBE) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,221 shares of the real estate investment trust’s stock after purchasing an additional 782 shares during the period. Mirador Capital Partners LP’s holdings in CubeSmart were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CUBE. Mather Group LLC. purchased a new stake in CubeSmart during the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in CubeSmart in the 1st quarter valued at $26,000. GAMMA Investing LLC purchased a new stake in CubeSmart in the 4th quarter worth $28,000. Signaturefd LLC boosted its holdings in shares of CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart during the fourth quarter valued at about $37,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Down 3.2 %

Shares of NYSE:CUBE opened at $43.72 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50 day simple moving average of $42.93 and a two-hundred day simple moving average of $43.93. CubeSmart has a 1 year low of $33.17 and a 1 year high of $47.81. The firm has a market capitalization of $9.84 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 5.49 and a beta of 0.80.

CubeSmart (NYSE:CUBE) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The business had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.51 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 4.67%. CubeSmart’s dividend payout ratio is currently 113.33%.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research analyst reports. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $50.00 to $47.00 in a research report on Wednesday, May 29th. Wells Fargo & Company increased their target price on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Evercore ISI boosted their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Raymond James reiterated an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Barclays began coverage on shares of CubeSmart in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus price target of $46.00.

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.