CubeSmart (NYSE:CUBE) Stake Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in CubeSmart (NYSE:CUBE) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,525 shares of the real estate investment trust’s stock after selling 1,119 shares during the period. Los Angeles Capital Management LLC’s holdings in CubeSmart were worth $2,379,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. grew its stake in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in CubeSmart in the third quarter worth about $33,000. UMB Bank n.a. increased its holdings in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in CubeSmart during the third quarter valued at approximately $59,000. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Scotiabank decreased their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Finally, Barclays dropped their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.18.

CubeSmart Trading Up 0.5 %

CubeSmart stock opened at $42.51 on Friday. The firm has a 50-day moving average price of $41.88 and a two-hundred day moving average price of $47.08. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 11.58 and a beta of 0.87. 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 issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is 117.51%.

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.