Sophron Capital Management L.P. Takes Position in CubeSmart (NYSE:CUBE)

Sophron Capital Management L.P. bought a new position in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 145,254 shares of the real estate investment trust’s stock, valued at approximately $6,224,000. CubeSmart makes up approximately 2.5% of Sophron Capital Management L.P.’s portfolio, making the stock its 17th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of CubeSmart by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust’s stock valued at $2,280,000 after buying an additional 306 shares in the last quarter. Magnetar Financial LLC grew its position in shares of CubeSmart by 2.3% in the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust’s stock valued at $606,000 after buying an additional 320 shares during the last quarter. Mariner LLC raised 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 acquiring an additional 328 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in CubeSmart by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE:CUBE opened at $43.67 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 firm has a market cap of $9.96 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. The firm’s fifty day moving average price is $40.62 and its 200 day moving average price is $42.91. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $273.04 million during the quarter, compared to analysts’ expectations of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. On average, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.76%. CubeSmart’s payout ratio is currently 123.08%.

Analyst Ratings Changes

CUBE has been the topic of several research reports. Mizuho initiated coverage on CubeSmart in a report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 price objective on the stock. Evercore ISI raised their price target on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Barclays cut their price target on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, Scotiabank lifted their target price on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.93.

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.