Coldstream Capital Management Inc. Boosts Stock Position in CubeSmart (NYSE:CUBE)

Coldstream Capital Management Inc. increased its stake in CubeSmart (NYSE:CUBE) by 5.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,621 shares of the real estate investment trust’s stock after acquiring an additional 2,412 shares during the quarter. Coldstream Capital Management Inc.’s holdings in CubeSmart were worth $2,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of CubeSmart by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust’s stock worth $1,350,080,000 after purchasing an additional 85,609 shares during the last quarter. Norges Bank purchased a new position in shares of CubeSmart in the fourth quarter valued at approximately $408,064,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of CubeSmart by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust’s stock worth $288,259,000 after acquiring an additional 1,464,331 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of CubeSmart by 8.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,299,460 shares of the real estate investment trust’s stock worth $184,232,000 after purchasing an additional 352,754 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of CubeSmart by 6.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock worth $144,320,000 after purchasing an additional 191,862 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CUBE shares. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research note on Thursday, March 6th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Mizuho started coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and an average price target of $47.31.

CubeSmart Stock Down 0.4 %

NYSE:CUBE opened at $39.79 on Monday. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The stock’s fifty day moving average is $40.68 and its two-hundred day moving average is $43.65. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The company had revenue of $231.41 million during 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%. Research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.23%. CubeSmart’s dividend payout ratio is presently 120.93%.

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.