GAMMA Investing LLC Raises Stock Holdings in CubeSmart (NYSE:CUBE)

GAMMA Investing LLC lifted its holdings in CubeSmart (NYSE:CUBE) by 52.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,375 shares of the real estate investment trust’s stock after purchasing an additional 819 shares during the quarter. GAMMA Investing LLC’s holdings in CubeSmart were worth $128,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of CubeSmart by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock valued at $1,443,316,000 after purchasing an additional 274,493 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in CubeSmart by 26.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after buying an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CubeSmart by 16.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,465,184 shares of the real estate investment trust’s stock worth $201,692,000 after buying an additional 615,035 shares during the period. Dimensional Fund Advisors LP increased its position in CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after acquiring an additional 169,600 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after acquiring an additional 303,347 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 0.2 %

Shares of CubeSmart stock opened at $49.82 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 9.11 and a beta of 0.82. The firm’s 50-day moving average is $51.32 and its two-hundred day moving average is $46.67. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The business had revenue of $266.20 million for the quarter, compared to the consensus estimate of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. CubeSmart’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, research analysts expect that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is currently 113.33%.

Insider Activity at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the transaction, the insider now directly owns 182,460 shares in the company, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now directly owns 182,460 shares of the company’s stock, valued at $8,630,358. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock valued at $4,244,344 over the last quarter. 1.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CUBE has been the topic of several analyst reports. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and upped their price target for the company from $53.00 to $54.00 in a report on Friday, September 13th. Truist Financial increased their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada assumed coverage on CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective for the company. Wells Fargo & Company lifted their target price on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average price target of $50.50.

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.