Azzad Asset Management Inc. ADV Purchases 875 Shares of CubeSmart (NYSE:CUBE)

Azzad Asset Management Inc. ADV raised its holdings in shares of CubeSmart (NYSE:CUBE) by 5.5% during the first quarter, Holdings Channel reports. The fund owned 16,909 shares of the real estate investment trust’s stock after buying an additional 875 shares during the period. Azzad Asset Management Inc. ADV’s holdings in CubeSmart were worth $765,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of CubeSmart in the 1st quarter valued at $26,000. Mather Group LLC. bought a new stake in CubeSmart in the first quarter worth $26,000. GAMMA Investing LLC purchased a new stake in CubeSmart during the fourth quarter valued at about $28,000. Signaturefd LLC grew its stake in shares of CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart in the fourth quarter worth about $37,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 1.0 %

NYSE CUBE traded up $0.44 during trading on Wednesday, hitting $44.43. The company had a trading volume of 140,299 shares, compared to its average volume of 1,394,674. The company’s fifty day moving average is $42.97 and its 200-day moving average is $43.92. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 5.49 and a beta of 0.80.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The company had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. During the same quarter last year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.04 annualized dividend and a yield of 4.59%. CubeSmart’s payout ratio is 113.33%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CUBE. Barclays initiated coverage on CubeSmart in a report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. Raymond James reissued an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research note on Thursday, March 28th. Wells Fargo & Company lifted their target price on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Finally, BMO Capital Markets cut shares of CubeSmart from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus price target of $46.00.

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.