Stevens Capital Management LP Takes $220,000 Position in CubeSmart (NYSE:CUBE)

Stevens Capital Management LP bought a new position in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 5,129 shares of the real estate investment trust’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Howard Capital Management Group LLC purchased a new position in shares of CubeSmart in the third quarter valued at approximately $212,000. Advisors Asset Management Inc. grew its stake in shares of CubeSmart by 11.8% in the third quarter. Advisors Asset Management Inc. now owns 5,010 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 529 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock worth $163,260,000 after acquiring an additional 135,211 shares during the period. Citigroup Inc. increased its position in shares of CubeSmart by 28.3% during the third quarter. Citigroup Inc. now owns 116,903 shares of the real estate investment trust’s stock worth $6,293,000 after acquiring an additional 25,756 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of CubeSmart by 6.9% in the third quarter. Daiwa Securities Group Inc. now owns 75,135 shares of the real estate investment trust’s stock valued at $4,045,000 after acquiring an additional 4,853 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CUBE stock opened at $41.79 on Tuesday. 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 company has a market capitalization of $9.52 billion, a P/E ratio of 23.61, a PEG ratio of 11.58 and a beta of 0.88. The business has a 50 day simple moving average of $41.84 and a 200-day simple moving average of $46.04. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS 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 firm had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. As a group, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 120.93%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CUBE shares. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group downgraded 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 report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised 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 report on Friday, January 10th. KeyCorp raised 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. Finally, Barclays decreased their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart 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.