Inceptionr LLC Decreases Stock Position in CubeSmart (NYSE:CUBE)

Inceptionr LLC lowered its position in shares of CubeSmart (NYSE:CUBE) by 71.4% during the fourth quarter, HoldingsChannel reports. The firm owned 7,245 shares of the real estate investment trust’s stock after selling 18,102 shares during the period. Inceptionr LLC’s holdings in CubeSmart were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CUBE. Howard Capital Management Group LLC bought a new stake in shares of CubeSmart in the third quarter worth $212,000. QRG Capital Management Inc. grew its holdings in CubeSmart by 15.3% during the 3rd quarter. QRG Capital Management Inc. now owns 9,456 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 1,255 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of CubeSmart in the 3rd quarter worth about $337,000. State of New Jersey Common Pension Fund D raised its stake in shares of CubeSmart by 1.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 130,998 shares of the real estate investment trust’s stock valued at $7,052,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of CubeSmart during the third quarter worth about $3,049,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 1.5 %

Shares of NYSE:CUBE opened at $42.91 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’s 50-day moving average is $41.78 and its 200-day moving average is $46.78. The company has a market cap of $9.78 billion, a P/E ratio of 24.24, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. Equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 4.85%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

Analysts Set New Price Targets

Several brokerages have recently commented on CUBE. Wells Fargo & Company decreased their target price 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. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Barclays dropped their target price on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $52.00 to $46.00 in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average price target of $48.08.

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.