4,798 Shares in CubeSmart (NYSE:CUBE) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. bought a new position in shares of CubeSmart (NYSE:CUBE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,798 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other institutional investors have also added to or reduced their stakes in CUBE. Raymond James Financial Inc. bought a new stake in shares of CubeSmart during the 4th quarter valued at about $21,278,000. Oak Thistle LLC raised its stake in CubeSmart by 232.9% in the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 22,582 shares in the last quarter. Entropy Technologies LP bought a new stake in CubeSmart during the fourth quarter valued at approximately $445,000. BNP Paribas Financial Markets grew its stake in CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after buying an additional 39,270 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of CubeSmart by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after buying an additional 36,919 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Performance

NYSE:CUBE opened at $42.03 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. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The business has a 50 day moving average price of $41.88 and a 200-day moving average price of $45.83. The firm has a market cap of $9.58 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $267.54 million. Equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. CubeSmart’s dividend payout ratio is presently 120.93%.

Analyst Ratings Changes

CUBE has been the subject of a number of research analyst reports. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Barclays dropped their target price on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.00.

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.