CubeSmart (NYSE:CUBE) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lessened its stake in CubeSmart (NYSE:CUBE) by 30.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 735 shares of the real estate investment trust’s stock after selling 326 shares during the period. Steward Partners Investment Advisory LLC’s holdings in CubeSmart were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC increased its position in CubeSmart by 232.9% in 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 acquiring an additional 22,582 shares during the period. Entropy Technologies LP purchased a new stake in CubeSmart in the 4th quarter valued at approximately $445,000. BNP Paribas Financial Markets boosted its holdings in CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock valued at $8,531,000 after purchasing an additional 39,270 shares in the last quarter. Franklin Resources Inc. boosted its holdings in CubeSmart by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after purchasing an additional 36,919 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in CubeSmart in the 3rd quarter valued at approximately $628,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

CUBE stock opened at $41.97 on Thursday. CubeSmart has a 1 year low of $39.80 and a 1 year 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 $41.77 and its 200 day moving average price is $46.28. The firm has a market cap of $9.56 billion, a P/E ratio of 23.71, a PEG ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. On average, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is currently 120.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Barclays lowered their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Finally, Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Company 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.