Duff & Phelps Investment Management Co. Cuts Stock Position in CubeSmart (NYSE:CUBE)

Duff & Phelps Investment Management Co. decreased its position in shares of CubeSmart (NYSE:CUBE) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,651,564 shares of the real estate investment trust’s stock after selling 1,655 shares during the period. CubeSmart accounts for 1.5% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 16th biggest position. Duff & Phelps Investment Management Co.’s holdings in CubeSmart were worth $122,900,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of CubeSmart in the 4th quarter valued at approximately $28,000. Signaturefd LLC raised its position in CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 292 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart during the fourth quarter worth $37,000. HHM Wealth Advisors LLC raised its stake in shares of CubeSmart by 53.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 359 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in CubeSmart by 65.8% in the third quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 573 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Trading Down 0.8 %

Shares of CUBE traded down $0.33 during mid-day trading on Tuesday, reaching $40.91. The stock had a trading volume of 379,201 shares, compared to its average volume of 1,460,174. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The business’s fifty day moving average is $43.66 and its 200 day moving average is $42.35. CubeSmart has a 52-week low of $33.17 and a 52-week high of $47.81. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 22.91 and a beta of 0.69.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The firm had revenue of $261.41 million for the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. On average, sell-side analysts predict that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and set a $48.00 target price on shares of CubeSmart in a report on Thursday, March 28th. Jefferies Financial Group upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. Evercore ISI raised their target price on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, March 4th. Wells Fargo & Company upped their price target on CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.33.

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.