Sequoia Financial Advisors LLC Acquires 1,949 Shares of CubeSmart (NYSE:CUBE)

Sequoia Financial Advisors LLC grew its holdings in CubeSmart (NYSE:CUBE) by 7.2% in the fourth quarter, Holdings Channel reports. The firm owned 28,920 shares of the real estate investment trust’s stock after buying an additional 1,949 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CubeSmart were worth $1,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Peterson Financial Group Inc. bought a new position in CubeSmart during the third quarter valued at approximately $33,000. Blue Trust Inc. lifted its position in CubeSmart by 74.9% during the fourth 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in CubeSmart by 134.1% during the fourth 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 period. Versant Capital Management Inc increased 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 purchasing an additional 673 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in shares of 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 purchasing an additional 559 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CUBE. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Barclays cut their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday. 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $41.72 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 11.58 and a beta of 0.88. The firm’s 50-day moving average is $41.73 and its 200 day moving average is $46.48.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. Research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

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

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.