AlphaQuest LLC Buys New Shares in CubeSmart (NYSE:CUBE)

AlphaQuest LLC bought a new stake in CubeSmart (NYSE:CUBE) in the fourth quarter, HoldingsChannel reports. The fund bought 37,724 shares of the real estate investment trust’s stock, valued at approximately $1,616,000.

A number of other institutional investors have also recently bought and sold shares of CUBE. Howard Capital Management Group LLC purchased a new stake in CubeSmart in the third quarter valued at approximately $212,000. Stephens Inc. AR purchased a new stake in CubeSmart in the third quarter valued at approximately $226,000. Van ECK Associates Corp grew its holdings in CubeSmart by 12.3% in the third quarter. Van ECK Associates Corp now owns 94,950 shares of the real estate investment trust’s stock valued at $4,681,000 after purchasing an additional 10,363 shares during the period. QRG Capital Management Inc. grew its holdings in CubeSmart by 15.3% in the third quarter. QRG Capital Management Inc. now owns 9,456 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 1,255 shares during the period. Finally, Carmel Capital Partners LLC grew its holdings in CubeSmart by 4.3% in the third quarter. Carmel Capital Partners LLC now owns 9,611 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 395 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $52.00 to $46.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.08.

CubeSmart Trading Up 1.5 %

NYSE CUBE opened at $42.91 on Friday. The company’s fifty day simple moving average is $41.78 and its 200-day simple moving average is $46.80. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.78 billion, a P/E ratio of 24.24, a PEG ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last posted its earnings results 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. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.85%. CubeSmart’s dividend payout ratio is presently 120.93%.

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.