Securian Asset Management Inc. Trims Position in CubeSmart (NYSE:CUBE)

Securian Asset Management Inc. lowered its position in CubeSmart (NYSE:CUBE) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,096 shares of the real estate investment trust’s stock after selling 415 shares during the quarter. Securian Asset Management Inc.’s holdings in CubeSmart were worth $733,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 673 shares during the period. Blue Trust Inc. lifted its holdings in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. grew its holdings in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of CubeSmart during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE:CUBE opened at $41.72 on Monday. The firm has a market capitalization of $9.51 billion, a PE ratio of 23.57, a PEG ratio of 11.58 and a beta of 0.88. The stock’s fifty day moving average is $41.73 and its 200 day moving average is $46.44. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

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

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CUBE. Wells Fargo & Company dropped their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Barclays dropped their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Finally, Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $48.00.

About CubeSmart

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.