68,893 Shares in CubeSmart (NYSE:CUBE) Bought by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC bought a new position in CubeSmart (NYSE:CUBE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 68,893 shares of the real estate investment trust’s stock, valued at approximately $2,952,000.

A number of other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of CubeSmart in the 4th quarter worth $58,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of CubeSmart by 38.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,725 shares of the real estate investment trust’s stock worth $5,259,000 after buying an additional 33,948 shares during the period. Magnetar Financial LLC boosted its position in shares of CubeSmart by 2.3% in the fourth quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 320 shares during the period. Teacher Retirement System of Texas boosted its position in shares of CubeSmart by 39.6% in the fourth quarter. Teacher Retirement System of Texas now owns 72,712 shares of the real estate investment trust’s stock worth $3,116,000 after buying an additional 20,616 shares during the period. Finally, Lindenwold Advisors INC boosted its position in shares of CubeSmart by 84.9% in the fourth quarter. Lindenwold Advisors INC now owns 10,318 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 4,738 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Performance

CUBE opened at $41.62 on Friday. The company has a market cap of $9.49 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The stock has a 50-day moving average of $41.81 and a 200-day moving average of $46.14. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results 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. The company had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analysts Set New Price Targets

CUBE has been the subject of several recent analyst reports. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and reduced their price objective for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Barclays lowered their target price on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Eight 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, CubeSmart has a consensus rating of “Hold” and a consensus target price of $48.00.

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.