CubeSmart (NYSE:CUBE) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC boosted its stake in CubeSmart (NYSE:CUBE) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,815 shares of the real estate investment trust’s stock after acquiring an additional 2,637 shares during the period. Metis Global Partners LLC’s holdings in CubeSmart were worth $1,106,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CUBE. Oak Thistle LLC increased its position in CubeSmart by 232.9% during the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 22,582 shares during the period. Entropy Technologies LP acquired a new position in CubeSmart during the 4th quarter worth approximately $445,000. BNP Paribas Financial Markets increased its position in CubeSmart by 32.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after purchasing an additional 39,270 shares during the period. Franklin Resources Inc. increased its position in CubeSmart by 13.1% during the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after purchasing an additional 36,919 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in CubeSmart during the 3rd quarter worth approximately $628,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group cut 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 research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and lowered their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.73.

CubeSmart Stock Performance

CUBE opened at $42.13 on Tuesday. The stock’s 50 day simple moving average is $41.84 and its 200 day simple moving average is $46.97. The stock has a market cap of $9.53 billion, a P/E ratio of 23.80, a P/E/G ratio of 11.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

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

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 4.94%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

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.