Dynamic Technology Lab Private Ltd Buys New Stake in CubeSmart (NYSE:CUBE)

Dynamic Technology Lab Private Ltd acquired a new position in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,000 shares of the real estate investment trust’s stock, valued at approximately $300,000.

Several other institutional investors also recently added to or reduced their stakes in CUBE. Blue Trust Inc. grew 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 worth $29,000 after purchasing an additional 289 shares during the last quarter. Jones Financial Companies Lllp lifted its position in CubeSmart by 134.1% in 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 period. Versant Capital Management Inc boosted its holdings in CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares in the last quarter. SRS Capital Advisors Inc. increased its position in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. grew its stake 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 period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho started coverage on CubeSmart in a report on Wednesday. They issued a “neutral” rating and a $39.00 price target on the stock. KeyCorp raised 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 objective for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.31.

CubeSmart Stock Performance

CubeSmart stock opened at $37.05 on Friday. The firm has a market capitalization of $8.44 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The stock’s 50 day moving average price is $41.33 and its 200 day moving average price is $44.69. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

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 analysts’ consensus estimates of $0.45 by $0.23. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

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 paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.61%. CubeSmart’s dividend payout ratio is presently 120.93%.

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.