Capital Fund Management S.A. Buys Shares of 36,941 CubeSmart (NYSE:CUBE)

Capital Fund Management S.A. purchased a new position in CubeSmart (NYSE:CUBE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,941 shares of the real estate investment trust’s stock, valued at approximately $1,583,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in CubeSmart during the fourth quarter valued at approximately $21,278,000. Greenland Capital Management LP raised its holdings in shares of CubeSmart by 7.6% during the 4th quarter. Greenland Capital Management LP now owns 27,975 shares of the real estate investment trust’s stock valued at $1,199,000 after purchasing an additional 1,975 shares in the last quarter. FIL Ltd lifted its stake in shares of CubeSmart by 147.1% in the 4th quarter. FIL Ltd now owns 33,605 shares of the real estate investment trust’s stock valued at $1,440,000 after purchasing an additional 20,007 shares during the last quarter. Employees Retirement System of Texas boosted its holdings in CubeSmart by 110.2% in the fourth quarter. Employees Retirement System of Texas now owns 154,500 shares of the real estate investment trust’s stock worth $6,620,000 after purchasing an additional 81,000 shares in the last quarter. Finally, Bank of Montreal Can increased its position in CubeSmart by 19.7% during the fourth quarter. Bank of Montreal Can now owns 70,505 shares of the real estate investment trust’s stock worth $3,021,000 after buying an additional 11,608 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.6 %

CUBE stock opened at $38.54 on Wednesday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market cap of $8.82 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The business’s 50-day simple moving average is $41.10 and its 200 day simple moving average is $44.38.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. On average, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CUBE shares. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Truist Financial upgraded 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 note on Friday, January 17th. Barclays lowered their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Finally, Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $47.31.

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.