Trillium Asset Management LLC Has $4.09 Million Stock Holdings in CubeSmart (NYSE:CUBE)

Trillium Asset Management LLC lowered its holdings in shares of CubeSmart (NYSE:CUBE) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,405 shares of the real estate investment trust’s stock after selling 4,133 shares during the period. Trillium Asset Management LLC’s holdings in CubeSmart were worth $4,088,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Howard Capital Management Group LLC bought a new stake in shares of CubeSmart in the 3rd quarter valued at $212,000. CIBC Asset Management Inc increased its stake in CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of CubeSmart by 4.6% during the third quarter. Natixis Advisors LLC now owns 71,126 shares of the real estate investment trust’s stock valued at $3,829,000 after purchasing an additional 3,131 shares during the period. Pathstone Holdings LLC boosted its position in shares of CubeSmart by 1.5% during the 3rd quarter. Pathstone Holdings LLC now owns 73,279 shares of the real estate investment trust’s stock worth $3,945,000 after purchasing an additional 1,076 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of CubeSmart in the 3rd quarter valued at about $3,810,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Performance

Shares of CUBE opened at $41.97 on Thursday. The stock has a 50 day moving average of $41.77 and a 200 day moving average of $46.28. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 12 month low of $39.80 and a 12 month 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.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.96%. CubeSmart’s payout ratio is currently 120.93%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and an average price target of $48.00.

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.