CubeSmart (NYSE:CUBE) Position Increased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its position in shares of CubeSmart (NYSE:CUBE) by 18.3% in the 4th quarter, Holdings Channel reports. The fund owned 14,180 shares of the real estate investment trust’s stock after buying an additional 2,193 shares during the period. Bridges Investment Management Inc.’s holdings in CubeSmart were worth $608,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oak Thistle LLC lifted its holdings in CubeSmart by 232.9% in the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after acquiring an additional 22,582 shares during the last quarter. Entropy Technologies LP acquired a new stake in CubeSmart in the 4th quarter valued at about $445,000. BNP Paribas Financial Markets lifted its holdings in CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock valued at $8,531,000 after acquiring an additional 39,270 shares during the last quarter. Franklin Resources Inc. lifted its holdings in CubeSmart by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after acquiring an additional 36,919 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in CubeSmart in the 3rd quarter valued at about $628,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CUBE shares. Scotiabank cut their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded 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. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and cut their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada cut their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $49.18.

CubeSmart Price Performance

Shares of CUBE opened at $41.28 on Monday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 11.58 and a beta of 0.87. 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 current ratio of 0.20 and a quick ratio of 0.20. The business’s 50-day moving average is $41.85 and its 200-day moving average is $47.02.

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

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.04%. CubeSmart’s dividend payout ratio is 120.93%.

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.