1834 Investment Advisors Co. Has $3.16 Million Stock Position in CubeSmart (NYSE:CUBE)

Key Points

• 1834 Investment Advisors Co. reduced its stake in CubeSmart by 12.3%, owning 74,010 shares valued at approximately $3.16 million.
• A number of institutional investors, including LPL Financial LLC and National Bank of Canada FI, have increased their positions in CubeSmart, reflecting a strong interest from the institutional investing community.
• CubeSmart reported earnings of $0.65 per share, surpassing estimates, alongside a quarterly revenue of $282.30 million, marking a 6.0% year-over-year increase.

1834 Investment Advisors Co. reduced its stake in CubeSmart (NYSE:CUBE - Free Report) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,010 shares of the real estate investment trust's stock after selling 10,344 shares during the period. 1834 Investment Advisors Co.'s holdings in CubeSmart were worth $3,161,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CUBE. LPL Financial LLC grew its holdings in CubeSmart by 19.2% during the fourth quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust's stock valued at $4,654,000 after purchasing an additional 17,518 shares during the period. National Bank of Canada FI bought a new position in shares of CubeSmart during the fourth quarter worth $1,200,000. Wells Fargo & Company MN grew its holdings in shares of CubeSmart by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 192,080 shares of the real estate investment trust's stock valued at $8,231,000 after buying an additional 4,659 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of CubeSmart in the 4th quarter valued at $3,835,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of CubeSmart in the 4th quarter valued at $300,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CUBE has been the topic of several recent analyst reports. BNP Paribas upgraded CubeSmart to a "hold" rating in a report on Tuesday, June 24th. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $48.00 to $49.00 in a research report on Friday, June 20th. Wolfe Research started coverage on shares of CubeSmart in a report on Monday, May 19th. They set an "outperform" rating and a $48.00 target price on the stock. Mizuho lifted their price target on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Evercore ISI lowered their price objective on shares of CubeSmart from $48.00 to $47.00 and set an "in-line" rating for the company in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CubeSmart currently has a consensus rating of "Hold" and an average target price of $47.13.

CubeSmart Stock Down 0.4%

Shares of CUBE stock opened at $39.51 on Thursday. The firm's fifty day moving average price is $42.12 and its two-hundred day moving average price is $41.55. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 1.18. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The firm has a market capitalization of $9.01 billion, a P/E ratio of 24.09, a PEG ratio of 7.29 and a beta of 0.94.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%. The company had revenue of $282.30 million during the quarter, compared to analysts' expectations of $275.71 million. During the same quarter last year, the company earned $0.64 EPS. CubeSmart's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.3%. CubeSmart's dividend payout ratio is currently 126.83%.

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.

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