Two Sigma Securities LLC Purchases New Position in CubeSmart (NYSE:CUBE)

Two Sigma Securities LLC purchased a new stake in CubeSmart (NYSE:CUBE) in the fourth quarter, Holdings Channel reports. The firm purchased 6,572 shares of the real estate investment trust’s stock, valued at approximately $282,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in CubeSmart by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust’s stock worth $1,350,080,000 after buying an additional 85,609 shares in the last quarter. Norges Bank bought a new position in CubeSmart in the fourth quarter worth approximately $408,064,000. T. Rowe Price Investment Management Inc. raised its stake in 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 buying an additional 1,464,331 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CubeSmart by 8.9% in 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 buying an additional 352,754 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in CubeSmart by 6.0% in 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 buying an additional 191,862 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

CUBE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Mizuho assumed coverage on CubeSmart in a research report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 price target on the stock. Finally, Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.31.

CubeSmart Trading Down 0.4 %

NYSE CUBE opened at $39.63 on Tuesday. The company has a market capitalization of $9.07 billion, a PE ratio of 22.39, a P/E/G ratio of 11.58 and a beta of 0.85. The company has a fifty day moving average of $40.65 and a 200 day moving average of $43.57. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. 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 (NYSE:CUBE) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently disclosed 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 was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.25%. CubeSmart’s dividend payout ratio (DPR) is currently 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.