Signaturefd LLC Has $32,000 Holdings in CubeSmart (NYSE:CUBE)

Signaturefd LLC increased its holdings in shares of CubeSmart (NYSE:CUBE) by 72.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 695 shares of the real estate investment trust’s stock after purchasing an additional 292 shares during the quarter. Signaturefd LLC’s holdings in CubeSmart were worth $32,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in CubeSmart by 1,915.7% in the third quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock valued at $116,609,000 after acquiring an additional 2,906,478 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CubeSmart by 54.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,898,429 shares of the real estate investment trust’s stock worth $148,647,000 after purchasing an additional 1,369,438 shares during the period. Schroder Investment Management Group bought a new position in CubeSmart during the third quarter worth about $33,972,000. Massachusetts Financial Services Co. MA increased its position in CubeSmart by 92.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,841,190 shares of the real estate investment trust’s stock worth $70,205,000 after buying an additional 886,616 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in CubeSmart by 29,910.3% in the third quarter. Lazard Asset Management LLC now owns 604,408 shares of the real estate investment trust’s stock valued at $23,044,000 after buying an additional 602,394 shares during the period. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on CubeSmart in a report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price target for the company. Barclays started coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and issued a $48.00 target price on shares of CubeSmart in a research report on Thursday, March 28th. Evercore ISI increased their target price on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Finally, Wells Fargo & Company boosted their price target on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and a consensus price target of $46.33.

CubeSmart Stock Performance

NYSE:CUBE opened at $41.74 on Friday. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 23.19 and a beta of 0.72. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $47.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a fifty day moving average price of $43.49 and a 200-day moving average price of $42.35.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The firm had revenue of $261.41 million for the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. As a group, equities analysts anticipate that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.89%. CubeSmart’s dividend payout ratio is currently 113.33%.

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.