Landscape Capital Management L.L.C. Has $446,000 Stock Position in CubeSmart (NYSE:CUBE)

Landscape Capital Management L.L.C. cut its holdings in CubeSmart (NYSE:CUBE) by 69.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,418 shares of the real estate investment trust’s stock after selling 23,758 shares during the period. Landscape Capital Management L.L.C.’s holdings in CubeSmart were worth $446,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CUBE. Centersquare Investment Management LLC increased its stake in CubeSmart by 31.9% during the 4th quarter. Centersquare Investment Management LLC now owns 1,910,373 shares of the real estate investment trust’s stock worth $81,859,000 after acquiring an additional 462,373 shares during the period. Huntington National Bank grew its holdings in shares of CubeSmart by 307.0% during the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 915 shares in the last quarter. National Bank of Canada FI bought a new position in shares of CubeSmart in the fourth quarter worth $1,200,000. Arrowstreet Capital Limited Partnership raised its stake in CubeSmart by 45.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 513,921 shares of the real estate investment trust’s stock valued at $22,022,000 after purchasing an additional 160,880 shares in the last quarter. Finally, Allstate Corp lifted its position in CubeSmart by 58.6% during the fourth quarter. Allstate Corp now owns 12,841 shares of the real estate investment trust’s stock worth $550,000 after purchasing an additional 4,743 shares during the period. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CUBE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Barclays decreased their target price on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Stock Down 5.3 %

NYSE:CUBE opened at $37.45 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a one year low of $37.11 and a one year high of $55.14. The firm’s 50 day simple moving average is $41.80 and its 200 day simple moving average is $45.16. The company has a market cap of $8.53 billion, a PE ratio of 21.16, a P/E/G ratio of 11.58 and a beta of 0.85.

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

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.55%. CubeSmart’s dividend payout ratio (DPR) is 120.93%.

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.