Albion Financial Group UT Sells 2,593 Shares of CubeSmart (NYSE:CUBE)

Albion Financial Group UT trimmed its position in shares of CubeSmart (NYSE:CUBE) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,664 shares of the real estate investment trust’s stock after selling 2,593 shares during the period. Albion Financial Group UT’s holdings in CubeSmart were worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CUBE. Quarry LP grew its holdings in CubeSmart by 19.8% during the 3rd quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 227 shares in the last quarter. CIBC Asset Management Inc grew its stake in CubeSmart by 3.6% during the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 233 shares in the last quarter. HighTower Advisors LLC increased its holdings in CubeSmart by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock worth $1,758,000 after acquiring an additional 243 shares during the period. Mirador Capital Partners LP lifted its stake in CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 248 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in CubeSmart by 4.5% in the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 248 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Up 0.3 %

CUBE opened at $41.47 on Wednesday. CubeSmart has a one year low of $39.80 and a one 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. The business has a 50 day simple moving average of $45.03 and a two-hundred day simple moving average of $48.12. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 11.38 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. Analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.52 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Scotiabank decreased their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Barclays cut their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus price target of $49.73.

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.