Measured Risk Portfolios Inc. Acquires New Holdings in CubeSmart $CUBE

Measured Risk Portfolios Inc. purchased a new stake in CubeSmart (NYSE:CUBE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 57,459 shares of the real estate investment trust’s stock, valued at approximately $2,336,000. CubeSmart makes up 2.2% of Measured Risk Portfolios Inc.’s holdings, making the stock its 14th biggest holding.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in CubeSmart in the second quarter valued at $458,008,000. Allspring Global Investments Holdings LLC boosted its stake in shares of CubeSmart by 0.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock worth $216,986,000 after acquiring an additional 27,278 shares during the period. Invesco Ltd. raised its stake in CubeSmart by 0.8% in the 2nd quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock valued at $137,678,000 after acquiring an additional 25,994 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CubeSmart by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock valued at $137,171,000 after purchasing an additional 44,288 shares during the last quarter. Finally, Millennium Management LLC boosted its position in CubeSmart by 129.6% during the first quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust’s stock worth $96,585,000 after purchasing an additional 1,276,340 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CUBE shares. Evercore ISI reduced their target price on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. Finally, Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Saturday. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.20.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $35.40 on Friday. The business has a fifty day moving average price of $36.79 and a two-hundred day moving average price of $39.55. The stock has a market capitalization of $8.07 billion, a PE ratio of 22.69, a P/E/G ratio of 7.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.CubeSmart’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share. As a group, equities analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is presently 135.90%.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.