MML Investors Services LLC Has $1.27 Million Position in CubeSmart (NYSE:CUBE)

MML Investors Services LLC grew its holdings in CubeSmart (NYSE:CUBE) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,618 shares of the real estate investment trust’s stock after purchasing an additional 1,398 shares during the quarter. MML Investors Services LLC’s holdings in CubeSmart were worth $1,271,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of CubeSmart by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after purchasing an additional 624,661 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CubeSmart by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after purchasing an additional 169,600 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CubeSmart by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after purchasing an additional 135,211 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of CubeSmart by 12.5% in the second 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. Finally, Bank of New York Mellon Corp grew its position in shares of CubeSmart by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 2,491,552 shares of the real estate investment trust’s stock valued at $112,543,000 after purchasing an additional 20,658 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 4.9 %

NYSE:CUBE opened at $43.31 on Thursday. The stock’s fifty day moving average price is $48.33 and its two-hundred day moving average price is $48.48. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. 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 company has a market cap of $9.79 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 13.00 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. During the same period in the prior year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate 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. Stockholders of record on Thursday, January 2nd will be paid a $0.52 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.80%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio is 117.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CUBE shares. Barclays decreased their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company lifted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Scotiabank decreased their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Finally, Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and an average target price of $51.36.

CubeSmart Company 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.