Swiss National Bank Has $18.98 Million Stake in CubeSmart (NYSE:CUBE)

Swiss National Bank boosted its position in shares of CubeSmart (NYSE:CUBE) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,900 shares of the real estate investment trust’s stock after buying an additional 3,700 shares during the period. Swiss National Bank owned approximately 0.20% of CubeSmart worth $18,978,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in 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 buying an additional 289 shares in the last quarter. Jones Financial Companies Lllp grew its stake 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 worth $29,000 after buying an additional 389 shares in the last quarter. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 673 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Up 0.4 %

Shares of NYSE CUBE opened at $42.28 on Wednesday. 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 1 year low of $39.80 and a 1 year high of $55.14. The company has a 50 day simple moving average of $41.75 and a 200 day simple moving average of $46.31. The firm has a market cap of $9.63 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (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 during the quarter, compared to analyst estimates of $267.54 million. On average, research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.92%. CubeSmart’s payout ratio is 120.93%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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 report on Friday, February 21st. Barclays dropped their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada dropped their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $48.00.

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.