Aster Capital Management DIFC Ltd Has $516,000 Holdings in CubeSmart (NYSE:CUBE)

Aster Capital Management DIFC Ltd lifted its holdings in CubeSmart (NYSE:CUBE) by 30.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,038 shares of the real estate investment trust’s stock after purchasing an additional 2,795 shares during the period. Aster Capital Management DIFC Ltd’s holdings in CubeSmart were worth $516,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in 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 buying an additional 673 shares in the last quarter. Blue Trust Inc. raised its holdings in 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 acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp boosted its position in CubeSmart by 134.1% during the fourth 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. SRS Capital Advisors Inc. grew its stake in CubeSmart by 310.6% in the fourth 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 in the last quarter. Finally, UMB Bank n.a. increased its position in shares of CubeSmart by 59.4% during the 4th 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 last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

CUBE opened at $39.51 on Monday. 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 has a fifty day simple moving average of $41.90 and a 200 day simple moving average of $45.28. CubeSmart has a 1 year low of $39.34 and a 1 year high of $55.14. The company has a market capitalization of $9.00 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85.

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, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. Research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given 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 5.26%. CubeSmart’s payout ratio is 120.93%.

Analysts Set New Price Targets

Several research firms have recently commented on CUBE. Royal Bank of Canada cut their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price objective for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Wells Fargo & Company lowered their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

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.