Kaizen Financial Strategies Sells 399 Shares of CubeSmart (NYSE:CUBE)

Kaizen Financial Strategies lowered its stake in shares of CubeSmart (NYSE:CUBE) by 7.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,782 shares of the real estate investment trust’s stock after selling 399 shares during the period. Kaizen Financial Strategies’ holdings in CubeSmart were worth $205,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CUBE. Bank of Montreal Can increased its holdings in CubeSmart by 19.7% in the 4th 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 last quarter. Norges Bank purchased a new position in shares of CubeSmart in the fourth quarter worth about $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 lifted its stake in shares of CubeSmart by 232.9% during the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after buying an additional 22,582 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in CubeSmart by 19.2% in the 4th quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust’s stock worth $4,654,000 after buying an additional 17,518 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

CubeSmart stock opened at $42.68 on Friday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two 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 has a market cap of $9.73 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. The firm’s fifty day moving average price is $40.58 and its 200-day moving average price is $43.13.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

Analyst Upgrades and Downgrades

CUBE has been the topic of several recent research reports. Evercore ISI increased their target price on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Mizuho began coverage on shares of CubeSmart in a report on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.85.

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.