Bokf Na Raises Holdings in CubeSmart (NYSE:CUBE)

Bokf Na lifted its holdings in shares of CubeSmart (NYSE:CUBE) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,008 shares of the real estate investment trust’s stock after buying an additional 2,782 shares during the period. Bokf Na’s holdings in CubeSmart were worth $2,882,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in CubeSmart in the 1st quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in CubeSmart in the 1st quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new position in CubeSmart in the 4th quarter valued at approximately $28,000. Signaturefd LLC increased its stake in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in CubeSmart in the 4th quarter valued at approximately $37,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CUBE shares. Wells Fargo & Company increased their target price on CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Friday. Raymond James increased their target price on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Evercore ISI raised their price objective on CubeSmart from $44.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Finally, BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.36.

CubeSmart Stock Down 0.4 %

NYSE:CUBE traded down $0.19 during mid-day trading on Monday, hitting $47.45. The company had a trading volume of 74,362 shares, compared to its average volume of 1,364,505. The business has a fifty day simple moving average of $44.61 and a 200-day simple moving average of $43.98. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a 1 year low of $33.17 and a 1 year high of $49.58. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 8.24 and a beta of 0.80.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business had revenue of $261.41 million for the quarter, compared to analysts’ expectations of $253.91 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s payout ratio is 113.33%.

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.