Sequoia Financial Advisors LLC Buys 1,949 Shares of CubeSmart (NYSE:CUBE)

Sequoia Financial Advisors LLC increased its stake in shares of CubeSmart (NYSE:CUBE) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,920 shares of the real estate investment trust’s stock after acquiring an additional 1,949 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CubeSmart were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of CubeSmart by 34.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,881 shares of the real estate investment trust’s stock worth $7,237,000 after purchasing an additional 42,871 shares during the last quarter. AlphaQuest LLC bought a new stake in CubeSmart in the 4th quarter worth $1,616,000. Carmel Capital Partners LLC increased its position in shares of CubeSmart by 4.5% in the fourth quarter. Carmel Capital Partners LLC now owns 10,044 shares of the real estate investment trust’s stock valued at $430,000 after acquiring an additional 433 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CubeSmart in the fourth quarter valued at about $21,278,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of CubeSmart by 4.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 106,022 shares of the real estate investment trust’s stock valued at $4,543,000 after acquiring an additional 4,514 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays reduced their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and decreased their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Royal Bank of Canada dropped their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and reduced their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.00.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $41.72 on Friday. The company has a 50 day simple moving average of $41.73 and a two-hundred day simple moving average of $46.48. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 11.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share 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 company had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. Analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is 120.93%.

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.