CubeSmart (NYSE:CUBE) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in shares of CubeSmart (NYSE:CUBE) by 11.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 25,815 shares of the real estate investment trust’s stock after acquiring an additional 2,637 shares during the period. Metis Global Partners LLC’s holdings in CubeSmart were worth $1,106,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Quarry LP boosted 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 last quarter. CIBC Asset Management Inc boosted its holdings in shares of CubeSmart by 3.6% during the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 233 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of CubeSmart by 0.8% during the third 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 during the last quarter. Captrust Financial Advisors boosted 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 worth $309,000 after purchasing an additional 248 shares during the last quarter. Finally, Blue Trust Inc. boosted 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 worth $29,000 after purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Trading Up 2.1 %

NYSE:CUBE opened at $42.13 on Tuesday. The business’s 50-day moving average is $41.84 and its two-hundred day moving average is $46.97. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The firm has a market capitalization of $9.53 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 11.58 and a beta of 0.87.

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

CubeSmart Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 4.94%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CUBE. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Wells Fargo & Company cut their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Barclays cut their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.73.

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.