CubeSmart (NYSE:CUBE) Position Increased by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of CubeSmart (NYSE:CUBE) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,368,022 shares of the real estate investment trust’s stock after acquiring an additional 191,862 shares during the period. CubeSmart makes up about 2.6% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 7th biggest position. Cbre Investment Management Listed Real Assets LLC owned about 1.49% of CubeSmart worth $144,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Oak Thistle LLC grew its holdings in shares of 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 during the period. Entropy Technologies LP purchased a new position in shares of CubeSmart during the fourth quarter worth approximately $445,000. BNP Paribas Financial Markets lifted its holdings in shares of CubeSmart by 32.9% during the third quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after purchasing an additional 39,270 shares during the period. Franklin Resources Inc. lifted its holdings in CubeSmart by 13.1% in the third quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after acquiring an additional 36,919 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of CubeSmart during the 3rd quarter worth $628,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price objective on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays cut their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Friday, January 10th. Finally, Scotiabank lowered their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus price target of $48.73.

CubeSmart Price Performance

Shares of CUBE stock opened at $41.76 on Wednesday. The stock’s fifty day simple moving average is $41.81 and its 200 day simple moving average is $46.92. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 11.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a one year low of $39.80 and a one year high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $231.41 million during the quarter, compared to analysts’ expectations of $267.54 million. On average, analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.98%. CubeSmart’s dividend payout ratio is 120.93%.

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.