Cbre Investment Management Listed Real Assets LLC Acquires 191,862 Shares of CubeSmart (NYSE:CUBE)

Cbre Investment Management Listed Real Assets LLC lifted its position in shares of CubeSmart (NYSE:CUBE) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,368,022 shares of the real estate investment trust’s stock after acquiring an additional 191,862 shares during the quarter. CubeSmart makes up approximately 2.6% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 7th biggest position. Cbre Investment Management Listed Real Assets LLC’s holdings in CubeSmart were worth $144,320,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in CubeSmart during the 3rd quarter valued at about $33,000. Blue Trust Inc. raised its holdings in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp raised its holdings in CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 389 shares during the period. Versant Capital Management Inc increased its holdings in shares of CubeSmart by 9,614.3% in the fourth 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 period. Finally, SRS Capital Advisors Inc. grew its position in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

CUBE stock opened at $41.76 on Wednesday. CubeSmart has a 1 year low of $39.80 and a 1 year 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. The stock’s 50 day moving average price is $41.81 and its 200 day moving average price is $46.92. The firm has a market cap of $9.45 billion, a P/E ratio of 23.60, a PEG ratio of 11.58 and a beta of 0.87.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. The business 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%. On average, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 4.98%. CubeSmart’s dividend payout ratio (DPR) is 120.93%.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of analyst reports. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Friday, January 10th. Barclays dropped their price target 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. Royal Bank of Canada reduced their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Seven 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.com, CubeSmart has an average rating of “Hold” and a consensus target price of $48.73.

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.