Cetera Investment Advisers Sells 8,599 Shares of CubeSmart (NYSE:CUBE)

Cetera Investment Advisers lowered its holdings in CubeSmart (NYSE:CUBE - Free Report) by 31.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,608 shares of the real estate investment trust's stock after selling 8,599 shares during the period. Cetera Investment Advisers' holdings in CubeSmart were worth $797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of 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 period. Jones Financial Companies Lllp raised its position in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. raised its position in shares of 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. UMB Bank n.a. raised 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 period. Finally, Huntington National Bank increased its position in CubeSmart by 307.0% in the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 915 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Ratings Changes

CUBE has been the topic of several analyst reports. Scotiabank raised their target price on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Wells Fargo & Company lowered their price target on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Truist Financial lifted their price target on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $50.00 in a research report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $47.33.

CubeSmart Stock Down 0.1%

Shares of CubeSmart stock traded down $0.04 during trading hours on Wednesday, reaching $41.84. 874,280 shares of the company's stock were exchanged, compared to its average volume of 1,496,320. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The stock has a market cap of $9.54 billion, a P/E ratio of 23.64, a P/E/G ratio of 11.58 and a beta of 1.00. The company has a 50 day moving average of $40.65 and a two-hundred day moving average of $42.65. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE - Get Free Report) last announced 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 for 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 for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, sell-side analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. CubeSmart's dividend payout ratio (DPR) is presently 123.08%.

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.