Tower Research Capital LLC TRC Purchases 12,296 Shares of CubeSmart (NYSE:CUBE)

Tower Research Capital LLC TRC grew its position in shares of CubeSmart (NYSE:CUBE) by 176.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,283 shares of the real estate investment trust’s stock after buying an additional 12,296 shares during the period. Tower Research Capital LLC TRC’s holdings in CubeSmart were worth $826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CUBE. Bank of Montreal Can increased its position in CubeSmart by 19.7% during the fourth quarter. Bank of Montreal Can now owns 70,505 shares of the real estate investment trust’s stock worth $3,021,000 after acquiring an additional 11,608 shares during the period. Norges Bank acquired a new stake in shares of CubeSmart in the fourth quarter valued at approximately $408,064,000. Raymond James Financial Inc. bought a new stake in shares of CubeSmart in the fourth quarter valued at approximately $21,278,000. Oak Thistle LLC grew its position in CubeSmart by 232.9% during the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after buying an additional 22,582 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of CubeSmart by 19.2% during the 4th quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust’s stock worth $4,654,000 after purchasing an additional 17,518 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the topic of a number of research analyst reports. Barclays reduced their target price on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $46.00 in a research 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. Mizuho initiated coverage on shares of CubeSmart in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company decreased their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.31.

CubeSmart Price Performance

CubeSmart stock opened at $39.79 on Friday. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 11.58 and a beta of 0.85. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. 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 stock’s 50 day moving average price is $40.68 and its two-hundred day moving average price is $43.69.

CubeSmart (NYSE:CUBE) last issued its 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 business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. On average, equities analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.23%. CubeSmart’s payout ratio is currently 120.93%.

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.