CubeSmart (NYSE:CUBE) Shares Acquired by Syntax Research Inc.

Syntax Research Inc. grew its position in CubeSmart (NYSE:CUBE) by 2,445.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,412 shares of the real estate investment trust’s stock after acquiring an additional 10,003 shares during the period. Syntax Research Inc.’s holdings in CubeSmart were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CUBE. Vanguard Group Inc. grew its position in shares of CubeSmart by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust’s stock valued at $1,350,080,000 after buying an additional 85,609 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of CubeSmart in the 4th quarter valued at $220,000. LPL Financial LLC grew its position in shares of CubeSmart by 19.2% in the 4th quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust’s stock valued at $4,654,000 after buying an additional 17,518 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of CubeSmart in the 4th quarter valued at $206,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of CubeSmart in the 4th quarter valued at $2,134,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on CUBE shares. Wells Fargo & Company dropped their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays lowered their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.00.

CubeSmart Stock Down 1.1 %

CUBE stock opened at $41.62 on Monday. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The stock has a market capitalization 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 company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a fifty day moving average of $41.81 and a 200-day moving average of $46.10.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million during the quarter, compared to analysts’ expectations of $267.54 million. As a group, analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

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

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.