Sei Investments Co. Has $26.35 Million Stake in CubeSmart (NYSE:CUBE)

Sei Investments Co. lowered its position in CubeSmart (NYSE:CUBE) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 614,937 shares of the real estate investment trust’s stock after selling 152,452 shares during the quarter. Sei Investments Co.’s holdings in CubeSmart were worth $26,350,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CUBE. Howard Capital Management Group LLC acquired a new stake in CubeSmart in the 3rd quarter valued at about $212,000. Advisors Asset Management Inc. raised its stake in 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 valued at $270,000 after buying an additional 529 shares during the period. Citigroup Inc. lifted its position in shares of CubeSmart by 28.3% in the third quarter. Citigroup Inc. now owns 116,903 shares of the real estate investment trust’s stock valued at $6,293,000 after buying an additional 25,756 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of CubeSmart by 6.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 75,135 shares of the real estate investment trust’s stock worth $4,045,000 after acquiring an additional 4,853 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of CubeSmart by 183.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,173 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 2,703 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of several research reports. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. 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. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $52.00 to $46.00 in a report on Wednesday, March 5th. Wells Fargo & Company lowered their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Stock Up 1.0 %

NYSE CUBE opened at $41.47 on Thursday. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 1-year low of $39.80 and a 1-year 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 company has a 50 day moving average of $41.87 and a 200-day moving average of $45.93.

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

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 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.