Yousif Capital Management LLC Sells 3,649 Shares of CubeSmart (NYSE:CUBE)

Yousif Capital Management LLC cut its position in CubeSmart (NYSE:CUBE) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,794 shares of the real estate investment trust’s stock after selling 3,649 shares during the quarter. Yousif Capital Management LLC’s holdings in CubeSmart were worth $3,719,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of CubeSmart by 9,614.3% during the 4th 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 in the last quarter. Blue Trust Inc. increased its position in shares of CubeSmart by 74.9% during the fourth 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 in the last quarter. UMB Bank n.a. lifted its holdings in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 444 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of CubeSmart during the 3rd quarter valued at $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of CubeSmart in the 3rd quarter worth $59,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

NYSE CUBE opened at $42.38 on Friday. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a market capitalization of $9.58 billion, a P/E ratio of 23.94, a PEG ratio of 11.48 and a beta of 0.87. The stock has a 50-day simple moving average of $43.13 and a two-hundred day simple moving average of $47.65.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. CubeSmart’s payout ratio is presently 117.51%.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of research analyst reports. Barclays decreased their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. 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. Scotiabank dropped their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.73.

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.