Quantinno Capital Management LP Buys 58,232 Shares of CubeSmart (NYSE:CUBE)

Quantinno Capital Management LP increased its stake in shares of CubeSmart (NYSE:CUBE) by 75.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 135,037 shares of the real estate investment trust’s stock after purchasing an additional 58,232 shares during the quarter. Quantinno Capital Management LP owned 0.06% of CubeSmart worth $5,786,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV increased its position in shares of CubeSmart by 1.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,122 shares of the real estate investment trust’s stock valued at $1,368,000 after purchasing an additional 590 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of CubeSmart during the 4th quarter valued at approximately $2,338,000. Nuveen Asset Management LLC increased its position in shares of CubeSmart by 11.4% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,118 shares of the real estate investment trust’s stock valued at $53,096,000 after purchasing an additional 127,086 shares during the last quarter. Millennium Management LLC increased its position in shares of CubeSmart by 71.2% during the 4th quarter. Millennium Management LLC now owns 985,079 shares of the real estate investment trust’s stock valued at $42,211,000 after purchasing an additional 409,701 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of CubeSmart by 29.6% during the 4th quarter. Lazard Asset Management LLC now owns 189,938 shares of the real estate investment trust’s stock valued at $8,138,000 after purchasing an additional 43,414 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CUBE. Wells Fargo & Company cut their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. Evercore ISI upped their price objective on CubeSmart from $44.00 to $47.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Scotiabank upped their price objective on CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.93.

CubeSmart Price Performance

NYSE CUBE opened at $43.67 on Friday. The company has a market cap of $9.96 billion, a PE ratio of 24.67, a P/E/G ratio of 11.58 and a beta of 1.00. The firm’s 50 day moving average price is $40.62 and its 200-day moving average price is $42.94. 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 has a 52-week low of $34.24 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $273.04 million for the quarter, compared to analysts’ expectations of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.52 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.76%. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

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.