Decatur Capital Management Inc. Has $1.34 Million Stock Position in CubeSmart (NYSE:CUBE)

Decatur Capital Management Inc. boosted its position in CubeSmart (NYSE:CUBE) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,710 shares of the real estate investment trust’s stock after buying an additional 616 shares during the quarter. Decatur Capital Management Inc.’s holdings in CubeSmart were worth $1,342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC increased its stake in shares of CubeSmart by 8,906.3% in the second quarter. Abich Financial Wealth Management LLC now owns 1,441 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,425 shares during the period. Squarepoint Ops LLC increased its position in CubeSmart by 4,545.2% in the 2nd quarter. Squarepoint Ops LLC now owns 156,728 shares of the real estate investment trust’s stock worth $7,079,000 after buying an additional 153,354 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of CubeSmart by 42,189.5% in the second quarter. Frank Rimerman Advisors LLC now owns 8,035 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 8,016 shares during the period. Prospector Partners LLC increased its position in CubeSmart by 3.4% during the second quarter. Prospector Partners LLC now owns 96,515 shares of the real estate investment trust’s stock worth $4,360,000 after acquiring an additional 3,175 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake 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 valued at $123,234,000 after purchasing an additional 303,347 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CUBE. Royal Bank of Canada began coverage on shares of CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective on the stock. Raymond James upped their target price on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Barclays lifted their price target on shares of CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their target price for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company boosted their price target on CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.50.

Insider Transactions at CubeSmart

In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total value of $1,792,650.00. Following the transaction, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total value of $1,792,650.00. Following the transaction, the chief executive officer now owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joel D. Keaton sold 43,478 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the transaction, the chief operating officer now owns 87,663 shares of the company’s stock, valued at $4,205,194.11. The disclosure for this sale can be found here. Insiders sold a total of 88,217 shares of company stock worth $4,244,344 in the last quarter. 1.68% of the stock is owned by company insiders.

CubeSmart Price Performance

Shares of CUBE stock opened at $53.60 on Thursday. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $50.43 and its 200-day moving average is $46.01. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 9.86 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same period last year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.81%. CubeSmart’s payout ratio is presently 113.33%.

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.