Mitsubishi UFJ Trust & Banking Corp Trims Position in CubeSmart (NYSE:CUBE)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of CubeSmart (NYSE:CUBE) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,089 shares of the real estate investment trust’s stock after selling 2,436 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of CubeSmart worth $7,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the last quarter. Blue Trust Inc. increased its stake in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 valued at $29,000 after purchasing an additional 389 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 1.0 %

Shares of CUBE opened at $42.03 on Monday. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm’s 50-day moving average price is $41.88 and its 200-day moving average price is $45.72. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last announced 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. The firm had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. CubeSmart’s payout ratio is 120.93%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of a number of recent research reports. Jefferies Financial Group downgraded 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 research report on Thursday, January 2nd. Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Barclays decreased their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.