Vanguard Group Inc. Grows Holdings in CubeSmart (NYSE:CUBE)

Vanguard Group Inc. increased its stake in CubeSmart (NYSE:CUBE) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,507,111 shares of the real estate investment trust’s stock after acquiring an additional 85,609 shares during the quarter. Vanguard Group Inc. owned 0.14% of CubeSmart worth $1,350,080,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CUBE. Quarry LP increased its holdings in CubeSmart by 19.8% in the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 227 shares during the last quarter. HighTower Advisors LLC boosted its stake in CubeSmart by 0.8% in the third quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock valued at $1,758,000 after acquiring an additional 243 shares during the period. Captrust Financial Advisors grew its holdings in shares of CubeSmart by 4.5% during the third quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 248 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of CubeSmart by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust’s stock worth $2,280,000 after purchasing an additional 306 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CUBE shares. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Barclays dropped their price target on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Finally, Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Stock Up 0.4 %

CUBE opened at $41.64 on Friday. 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 company has a market capitalization of $9.49 billion, a PE ratio of 23.52, a P/E/G ratio of 11.58 and a beta of 0.88. The stock’s fifty day moving average is $41.87 and its 200-day moving average is $45.90. CubeSmart has a one year low of $39.80 and a one year high of $55.14.

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

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is 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.