CANADA LIFE ASSURANCE Co Has $18.85 Million Position in CubeSmart (NYSE:CUBE)

CANADA LIFE ASSURANCE Co raised its stake in CubeSmart (NYSE:CUBE) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 440,099 shares of the real estate investment trust’s stock after buying an additional 19,849 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.19% of CubeSmart worth $18,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake 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 acquiring an additional 673 shares during the last quarter. Blue Trust Inc. increased its position in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares during the last quarter. Jones Financial Companies Lllp increased its position in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

NYSE CUBE opened at $39.50 on Monday. The stock has a 50-day simple moving average of $40.91 and a 200 day simple moving average of $44.03. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a market capitalization of $9.04 billion, a PE ratio of 22.31, a P/E/G ratio of 11.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

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

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Tuesday, April 1st. CubeSmart’s payout ratio is presently 120.93%.

Analyst Ratings Changes

CUBE has been the topic of several recent research reports. Mizuho began coverage on shares of CubeSmart in a research report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 price objective on the stock. Barclays cut their price target on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $52.00 to $46.00 in a report on Wednesday, March 5th. 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 research report on Monday, March 3rd. Finally, Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and reduced their price target for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.31.

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.