Polymer Capital Management US LLC Invests $826,000 in CubeSmart (NYSE:CUBE)

Polymer Capital Management US LLC acquired a new stake in CubeSmart (NYSE:CUBE) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 19,281 shares of the real estate investment trust’s stock, valued at approximately $826,000.

A number of other large investors have also bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its position in shares of CubeSmart by 30.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 12,038 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 2,795 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in CubeSmart by 77.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,395 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 1,047 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CubeSmart in the 4th quarter valued at about $300,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of CubeSmart in the 4th quarter valued at about $3,835,000. Finally, Wells Fargo & Company MN boosted its position in shares of CubeSmart by 2.5% during the fourth quarter. Wells Fargo & Company MN now owns 192,080 shares of the real estate investment trust’s stock worth $8,231,000 after buying an additional 4,659 shares during the period. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Down 3.8 %

CUBE opened at $39.51 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a fifty day moving average of $41.90 and a 200-day moving average of $45.28. CubeSmart has a fifty-two week low of $39.34 and a fifty-two week high of $55.14. The company has a market capitalization of $9.00 billion, a P/E ratio of 22.32, a P/E/G ratio of 11.58 and a beta of 0.85.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, equities analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.26%. CubeSmart’s payout ratio is 120.93%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Barclays reduced their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. 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 research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, KeyCorp upgraded 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. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.