Pensionfund DSM Netherlands Sells 17,000 Shares of CubeSmart (NYSE:CUBE)

Pensionfund DSM Netherlands cut its position in CubeSmart (NYSE:CUBE) by 24.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,800 shares of the real estate investment trust’s stock after selling 17,000 shares during the quarter. CubeSmart accounts for about 1.4% of Pensionfund DSM Netherlands’ portfolio, making the stock its 23rd largest holding. Pensionfund DSM Netherlands’ holdings in CubeSmart were worth $2,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares in the last quarter. UMB Bank n.a. lifted its position in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of CubeSmart in the second quarter worth about $33,000. Peterson Financial Group Inc. acquired a new stake in CubeSmart during the 3rd quarter worth approximately $33,000. Finally, Quarry LP grew its holdings in CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 757 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE CUBE traded down $0.18 during trading hours on Monday, reaching $42.14. 70,936 shares of the company were exchanged, compared to its average volume of 665,483. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The business’s 50 day simple moving average is $46.69 and its 200-day simple moving average is $48.43. The stock has a market capitalization of $9.53 billion, a P/E ratio of 23.81, a P/E/G ratio of 13.00 and a beta of 0.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

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

CubeSmart Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 4.94%. CubeSmart’s payout ratio is 117.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and upped their target price for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Wells Fargo & Company increased their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Scotiabank cut their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays cut their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, CubeSmart has an average rating of “Hold” and an average price target of $49.91.

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.