MML Investors Services LLC Purchases 1,398 Shares of CubeSmart (NYSE:CUBE)

MML Investors Services LLC lifted its position in CubeSmart (NYSE:CUBE) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,618 shares of the real estate investment trust’s stock after buying an additional 1,398 shares during the period. MML Investors Services LLC’s holdings in CubeSmart were worth $1,271,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CUBE. Whittier Trust Co. increased its position in shares of CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. UMB Bank n.a. increased its position in shares of CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart in the 2nd quarter valued at $33,000. Peterson Financial Group Inc. bought a new position in CubeSmart during the 3rd quarter worth about $33,000. Finally, Quarry LP increased 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 purchasing an additional 757 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CUBE. Wells Fargo & Company increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Jefferies Financial Group increased their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada lowered their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Scotiabank reduced their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus price target of $51.36.

CubeSmart Trading Down 4.9 %

Shares of CUBE stock opened at $43.31 on Thursday. The firm has a 50 day moving average price of $48.33 and a two-hundred day moving average price of $48.48. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9.79 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 13.00 and a beta of 0.84. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14.

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

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.80%. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 117.51%.

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.