Mesirow Institutional Investment Management Inc. Purchases 13,904 Shares of CubeSmart (NYSE:CUBE)

Mesirow Institutional Investment Management Inc. boosted its position in CubeSmart (NYSE:CUBE) by 20.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 80,420 shares of the real estate investment trust’s stock after purchasing an additional 13,904 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in CubeSmart were worth $3,446,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in CubeSmart by 9,614.3% during 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 last quarter. Blue Trust Inc. grew its holdings in shares of CubeSmart by 74.9% in 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of CubeSmart by 134.1% in the fourth 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 last quarter. SRS Capital Advisors Inc. raised its holdings in CubeSmart by 310.6% during 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. Finally, UMB Bank n.a. raised its holdings in CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CUBE. 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. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company dropped their price target 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. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.31.

CubeSmart Price Performance

CubeSmart stock opened at $39.50 on Friday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 11.58 and a beta of 0.85. The stock’s 50 day moving average is $40.91 and its 200-day moving average is $44.09. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data 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. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 120.93%.

CubeSmart 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.