Impact Partnership Wealth LLC Increases Stake in CubeSmart (NYSE:CUBE)

Impact Partnership Wealth LLC boosted its stake in shares of CubeSmart (NYSE:CUBE) by 35.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,427 shares of the real estate investment trust’s stock after purchasing an additional 2,448 shares during the period. Impact Partnership Wealth LLC’s holdings in CubeSmart were worth $404,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in CubeSmart during the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc boosted its holdings in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 673 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of CubeSmart in the third quarter worth $59,000. Finally, Quarry LP raised its holdings in shares of CubeSmart by 195.6% during the second quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

CubeSmart stock opened at $41.70 on Friday. The company has a fifty day simple moving average of $44.60 and a 200-day simple moving average of $48.00. 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 firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 11.20 and a beta of 0.87. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The business had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. On average, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.52 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Thursday, January 2nd. CubeSmart’s dividend payout ratio is presently 117.51%.

Analyst Upgrades and Downgrades

CUBE has been the topic of several recent research reports. Barclays lowered their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Royal Bank of Canada reduced their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Scotiabank decreased their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.73.

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.