Mirador Capital Partners LP Has $701,000 Position in CubeSmart (NYSE:CUBE)

Mirador Capital Partners LP increased its stake in shares of CubeSmart (NYSE:CUBE) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,352 shares of the real estate investment trust’s stock after buying an additional 477 shares during the period. Mirador Capital Partners LP’s holdings in CubeSmart were worth $701,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its holdings in shares of CubeSmart by 19.8% during the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 227 shares during the period. CIBC Asset Management Inc lifted its position in shares of CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 233 shares during the period. HighTower Advisors LLC grew its holdings in shares of CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 243 shares in the last quarter. Captrust Financial Advisors raised its stake in CubeSmart by 4.5% in 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 in the last quarter. Finally, Presima Securities ULC lifted its position in CubeSmart by 2.9% during the third quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUBE. Scotiabank cut their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Barclays lowered their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada cut their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.00.

CubeSmart Price Performance

Shares of CUBE opened at $40.61 on Thursday. The business’s fifty day moving average is $45.57 and its 200 day moving average is $48.17. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.18 billion, a P/E ratio of 22.94, a P/E/G ratio of 11.06 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that CubeSmart will post 2.63 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be 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 yield of 5.12%. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

CubeSmart Company 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.