Cetera Investment Advisers Has $797,000 Position in CubeSmart (NYSE:CUBE)

Cetera Investment Advisers decreased its stake in CubeSmart (NYSE:CUBE - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,608 shares of the real estate investment trust's stock after selling 8,599 shares during the quarter. Cetera Investment Advisers' holdings in CubeSmart were worth $797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CubeSmart during the 4th quarter valued at $408,064,000. Capital World Investors raised its holdings in shares of CubeSmart by 184.5% during the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock valued at $126,161,000 after purchasing an additional 1,909,496 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of CubeSmart by 219.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after purchasing an additional 1,768,626 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of CubeSmart by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock valued at $288,259,000 after purchasing an additional 1,464,331 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of CubeSmart by 46.6% during the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after purchasing an additional 1,195,246 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their target price for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Truist Financial raised their target price on shares of CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Scotiabank raised their target price on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, CubeSmart presently has an average rating of "Hold" and an average target price of $47.07.

CubeSmart Price Performance

Shares of NYSE:CUBE traded up $0.53 during midday trading on Tuesday, reaching $41.85. 2,002,323 shares of the company's stock were exchanged, compared to its average volume of 1,498,541. The company's 50 day simple moving average is $40.66 and its two-hundred day simple moving average is $42.66. The firm has a market capitalization of $9.54 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. 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 - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart's dividend payout ratio is currently 123.08%.

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.