Lightrock Netherlands B.V. grew its position in CubeSmart (NYSE:CUBE - Free Report) by 42.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,076 shares of the real estate investment trust's stock after buying an additional 59,669 shares during the period. CubeSmart accounts for approximately 2.2% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 20th largest position. Lightrock Netherlands B.V. owned 0.09% of CubeSmart worth $8,517,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted 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. boosted 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. Huntington National Bank boosted its position in shares of CubeSmart by 307.0% during the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 915 shares during the period. Quantbot Technologies LP purchased a new position in shares of CubeSmart during the 4th quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC lifted its holdings in CubeSmart by 446.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after buying an additional 1,468 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Mizuho increased their target price on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Barclays reduced their target price on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Friday, May 16th. Finally, Wolfe Research began 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. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $47.38.
View Our Latest Research Report on CubeSmart
CubeSmart Stock Up 0.1%
NYSE:CUBE traded up $0.05 during midday trading on Tuesday, hitting $42.62. 1,318,436 shares of the company were exchanged, compared to its average volume of 1,560,138. The company has a fifty day simple moving average of $42.61 and a 200 day simple moving average of $41.67. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $9.72 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 7.83 and a beta of 0.96.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The company had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. During the same period last year, the firm posted $0.64 EPS. CubeSmart's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.
CubeSmart Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.88%. The ex-dividend date is Tuesday, July 1st. CubeSmart's payout ratio is currently 123.08%.
About CubeSmart
(
Free Report)
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.
Further Reading

Before you consider CubeSmart, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CubeSmart wasn't on the list.
While CubeSmart currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.