TD Private Client Wealth LLC Sells 10,281 Shares of CubeSmart (NYSE:CUBE)

TD Private Client Wealth LLC lessened its stake in CubeSmart (NYSE:CUBE) by 83.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,971 shares of the real estate investment trust’s stock after selling 10,281 shares during the period. TD Private Client Wealth LLC’s holdings in CubeSmart were worth $84,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the last quarter. Versant Capital Management Inc increased its position in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the period. SRS Capital Advisors Inc. raised its stake in CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 559 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Wells Fargo & Company lowered their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Royal Bank of Canada reduced 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Stock Performance

Shares of CUBE stock opened at $41.11 on Wednesday. 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 firm has a fifty day simple moving average of $41.85 and a two-hundred day simple moving average of $45.96. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The firm has a market capitalization of $9.37 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping 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 company had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. Analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal 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 issued a $0.52 dividend. 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 5.06%. CubeSmart’s dividend payout ratio is presently 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.