CubeSmart (NYSE:CUBE) Holdings Decreased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in CubeSmart (NYSE:CUBE) by 24.7% in the first quarter, Holdings Channel.com reports. The fund owned 13,194 shares of the real estate investment trust’s stock after selling 4,322 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CubeSmart were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in CubeSmart by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust’s stock worth $2,280,000 after buying an additional 306 shares during the last quarter. Magnetar Financial LLC grew its stake in CubeSmart by 2.3% during the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 320 shares during the last quarter. Mariner LLC grew its stake in CubeSmart by 2.5% during the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust’s stock worth $585,000 after buying an additional 328 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in CubeSmart by 0.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 50,534 shares of the real estate investment trust’s stock worth $2,165,000 after buying an additional 370 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in CubeSmart by 4.4% during the 4th quarter. EP Wealth Advisors LLC now owns 9,127 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 387 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CUBE has been the subject of a number of analyst reports. Wolfe Research initiated coverage on CubeSmart in a research report on Monday, May 19th. They set an “outperform” rating and a $48.00 price target for the company. Truist Financial boosted their price target on CubeSmart from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Mizuho boosted their price target on CubeSmart from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Barclays reduced their price target on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, May 16th. Finally, Evercore ISI boosted their price target on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.38.

CubeSmart Trading Up 1.1%

Shares of CubeSmart stock opened at $43.51 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 7.97 and a beta of 0.96. The business has a fifty day simple moving average of $42.49 and a 200-day simple moving average of $41.67. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. During the same period in the prior year, the business posted $0.64 earnings per share. CubeSmart’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Tuesday, July 1st. CubeSmart’s dividend payout ratio is 123.08%.

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.