Presima Securities ULC Has $571,000 Holdings in CubeSmart (NYSE:CUBE)

Presima Securities ULC increased its holdings in CubeSmart (NYSE:CUBE) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,600 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the quarter. Presima Securities ULC’s holdings in CubeSmart were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBE. Wellington Management Group LLP grew its position in shares of CubeSmart by 52.2% in the 4th quarter. Wellington Management Group LLP now owns 1,754,594 shares of the real estate investment trust’s stock valued at $81,325,000 after buying an additional 601,530 shares during the last quarter. Mather Group LLC. bought a new stake in CubeSmart in the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in CubeSmart during the 1st quarter valued at approximately $26,000. Cooper Financial Group raised its holdings in CubeSmart by 8.6% during the 1st quarter. Cooper Financial Group now owns 11,225 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 886 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of CubeSmart by 24.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 234,822 shares of the real estate investment trust’s stock worth $10,619,000 after purchasing an additional 46,718 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Trading Up 0.7 %

NYSE CUBE opened at $50.40 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. CubeSmart has a 52 week low of $33.17 and a 52 week high of $55.14. The business has a 50 day moving average price of $51.48 and a 200-day moving average price of $46.77. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 9.12 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The business had revenue of $266.20 million for the quarter, compared to the consensus estimate of $260.68 million. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.51 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 4.05%. CubeSmart’s dividend payout ratio (DPR) is currently 114.61%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Scotiabank initiated coverage on shares of CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price objective for the company. Wells Fargo & Company increased their price target on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Evercore ISI raised their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial lifted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average target price of $50.50.

Insiders Place Their Bets

In other news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the transaction, the insider now owns 182,460 shares in the company, valued at $8,630,358. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher P. Marr sold 37,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total value of $1,792,650.00. Following the completion of the sale, the chief executive officer now owns 576,836 shares in the company, valued at $27,947,704.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total transaction of $366,054.70. Following the transaction, the insider now directly owns 182,460 shares in the company, valued at $8,630,358. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,217 shares of company stock valued at $4,244,344. Corporate insiders own 1.68% of the company’s stock.

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.