Nisa Investment Advisors LLC Has $3.25 Million Stock Position in CubeSmart (NYSE:CUBE)

Nisa Investment Advisors LLC lessened its holdings in CubeSmart (NYSE:CUBE) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,816 shares of the real estate investment trust’s stock after selling 1,491 shares during the period. Nisa Investment Advisors LLC’s holdings in CubeSmart were worth $3,249,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CUBE. UMB Bank n.a. lifted its position 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 buying an additional 444 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in CubeSmart in the 3rd quarter worth approximately $33,000. Versant Capital Management Inc boosted its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the period. Brooklyn Investment Group acquired a new position in CubeSmart during the third quarter valued at approximately $59,000. Finally, Quarry LP grew its holdings in CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 757 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Up 1.4 %

Shares of CUBE stock opened at $41.70 on Friday. 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 firm has a fifty day moving average of $44.60 and a 200-day moving average of $48.03. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 11.20 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 4.99%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio is currently 117.51%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CUBE shares. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered 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 for the company in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus price target of $49.73.

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.