CubeSmart $CUBE Shares Purchased by Strs Ohio

Strs Ohio increased its holdings in shares of CubeSmart (NYSE:CUBE) by 21.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 574,612 shares of the real estate investment trust’s stock after purchasing an additional 103,402 shares during the period. Strs Ohio’s holdings in CubeSmart were worth $23,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CUBE. Chicago Partners Investment Group LLC boosted its holdings in CubeSmart by 109.6% in the third quarter. Chicago Partners Investment Group LLC now owns 11,282 shares of the real estate investment trust’s stock worth $466,000 after acquiring an additional 5,899 shares in the last quarter. Inscription Capital LLC raised its position in shares of CubeSmart by 83.1% in the 3rd quarter. Inscription Capital LLC now owns 12,425 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 5,639 shares during the last quarter. Pacific Heights Asset Management LLC acquired a new stake in CubeSmart in the 3rd quarter worth approximately $12,198,000. Arkadios Wealth Advisors grew its position in CubeSmart by 18.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,125 shares of the real estate investment trust’s stock worth $534,000 after purchasing an additional 2,030 shares during the last quarter. Finally, Nordwand Advisors LLC grew its position in CubeSmart by 18.4% during the 3rd quarter. Nordwand Advisors LLC now owns 29,600 shares of the real estate investment trust’s stock worth $1,204,000 after purchasing an additional 4,600 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Down 1.2%

NYSE CUBE opened at $38.21 on Friday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $8.71 billion, a PE ratio of 24.49, a P/E/G ratio of 8.41 and a beta of 1.11. The company has a fifty day moving average of $36.79 and a 200 day moving average of $39.04.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. Research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.53 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 135.90%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Tuesday. Truist Financial cut their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. Finally, Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.40.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.