HighTower Advisors LLC Sells 1,633 Shares of CubeSmart (NYSE:CUBE)

HighTower Advisors LLC decreased its position in shares of CubeSmart (NYSE:CUBE) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,981 shares of the real estate investment trust’s stock after selling 1,633 shares during the quarter. HighTower Advisors LLC’s holdings in CubeSmart were worth $1,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the last quarter. Versant Capital Management Inc increased its position in shares of CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. grew its stake in CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 351 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 1.5 %

Shares of CubeSmart stock opened at $41.11 on Wednesday. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company’s 50-day moving average price is $41.85 and its 200-day moving average price is $45.96. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million during the quarter, compared to analysts’ expectations of $267.54 million. On average, equities analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 120.93%.

Analysts Set New Price Targets

CUBE has been the topic of a number of research reports. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Royal Bank of Canada cut their price objective on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.00.

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.