Natixis Advisors LLC Cuts Stock Holdings in CubeSmart (NYSE:CUBE)

Natixis Advisors LLC reduced its position in shares of CubeSmart (NYSE:CUBE) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,910 shares of the real estate investment trust’s stock after selling 8,216 shares during the period. Natixis Advisors LLC’s holdings in CubeSmart were worth $2,696,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in CubeSmart by 0.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 179,393 shares of the real estate investment trust’s stock worth $7,687,000 after buying an additional 710 shares in the last quarter. Vestcor Inc increased its stake in CubeSmart by 99.5% during the 4th quarter. Vestcor Inc now owns 87,005 shares of the real estate investment trust’s stock worth $3,728,000 after buying an additional 43,383 shares in the last quarter. Swiss National Bank increased its stake in CubeSmart by 0.8% during the 4th quarter. Swiss National Bank now owns 442,900 shares of the real estate investment trust’s stock worth $18,978,000 after buying an additional 3,700 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of CubeSmart by 7.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 28,920 shares of the real estate investment trust’s stock valued at $1,239,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CubeSmart by 34.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,881 shares of the real estate investment trust’s stock valued at $7,237,000 after purchasing an additional 42,871 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of analyst reports. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and dropped their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada dropped their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.00.

CubeSmart Stock Down 1.1 %

NYSE:CUBE opened at $41.62 on Monday. 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 stock’s fifty day moving average is $41.81 and its two-hundred day moving average is $46.10. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 for 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is 120.93%.

About CubeSmart

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.