CubeSmart (NYSE:CUBE) Shares Sold by Decatur Capital Management Inc.

Decatur Capital Management Inc. trimmed its stake in CubeSmart (NYSE:CUBE) by 1.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 78,998 shares of the real estate investment trust’s stock after selling 1,196 shares during the quarter. CubeSmart makes up about 1.5% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Decatur Capital Management Inc.’s holdings in CubeSmart were worth $3,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in CubeSmart by 851.2% in the 4th quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust’s stock valued at $48,498,000 after acquiring an additional 1,012,816 shares during the period. GeoWealth Management LLC increased its holdings in shares of CubeSmart by 16.2% during the fourth quarter. GeoWealth Management LLC now owns 3,074 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 429 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of CubeSmart by 4.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 440,099 shares of the real estate investment trust’s stock valued at $18,850,000 after purchasing an additional 19,849 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in CubeSmart in the fourth quarter worth about $329,000. Finally, Walleye Capital LLC bought a new position in CubeSmart in the 4th quarter valued at about $315,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CubeSmart stock opened at $39.50 on Friday. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. 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 stock has a market cap of $9.04 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The business has a fifty day simple moving average of $40.91 and a 200-day simple moving average of $44.15.

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

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 120.93%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CUBE. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Mizuho started coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 price objective on the stock. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the company from $50.00 to $47.00 in a report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.31.

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.