Mount Yale Investment Advisors LLC Cuts Stake in CubeSmart (NYSE:CUBE)

Mount Yale Investment Advisors LLC cut its position in CubeSmart (NYSE:CUBE) by 18.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,811 shares of the real estate investment trust’s stock after selling 5,153 shares during the period. Mount Yale Investment Advisors LLC’s holdings in CubeSmart were worth $977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CUBE. KBC Group NV raised its holdings in CubeSmart by 54.6% in the 4th quarter. KBC Group NV now owns 9,068 shares of the real estate investment trust’s stock worth $389,000 after acquiring an additional 3,201 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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. Presima Securities ULC increased its holdings in shares of CubeSmart by 4,092.4% in the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock worth $19,042,000 after purchasing an additional 433,790 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of CubeSmart by 20.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,153 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 543 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in shares of CubeSmart by 35.1% during the fourth quarter. Impact Partnership Wealth LLC now owns 9,427 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 2,448 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

NYSE CUBE opened at $42.71 on Tuesday. 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 business’s fifty day moving average is $44.48 and its 200 day moving average is $48.04. The company has a market capitalization of $9.66 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 11.20 and a beta of 0.87. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

Analyst Ratings Changes

A number of brokerages have weighed in on CUBE. Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Barclays lowered their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and dropped their price target for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.73.

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.