CubeSmart (NYSE:CUBE) Position Boosted by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. increased its holdings in CubeSmart (NYSE:CUBE - Free Report) by 42.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,076 shares of the real estate investment trust's stock after buying an additional 59,669 shares during the quarter. CubeSmart comprises 2.2% of Lightrock Netherlands B.V.'s portfolio, making the stock its 20th largest holding. Lightrock Netherlands B.V. owned about 0.09% of CubeSmart worth $8,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in CubeSmart in the fourth quarter worth approximately $619,000. SRS Capital Advisors Inc. lifted its position in CubeSmart by 310.6% in the fourth 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. Jones Financial Companies Lllp lifted its position in CubeSmart by 134.1% in the fourth 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. Charles Schwab Investment Management Inc. lifted its position in CubeSmart by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,124,707 shares of the real estate investment trust's stock worth $133,894,000 after purchasing an additional 91,822 shares during the period. Finally, Arizona State Retirement System lifted its position in CubeSmart by 0.9% in the fourth quarter. Arizona State Retirement System now owns 65,357 shares of the real estate investment trust's stock worth $2,801,000 after purchasing an additional 577 shares during the period. 97.61% of the stock is owned by institutional investors.

CubeSmart Trading Up 1.1%

NYSE CUBE opened at $43.51 on Friday. CubeSmart has a 1-year low of $34.24 and a 1-year 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 $9.92 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 7.97 and a beta of 0.96. The firm's fifty day simple moving average is $42.49 and its 200-day simple moving average is $41.67.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The business had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. During the same period in the prior year, the business posted $0.64 earnings per share. CubeSmart's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced 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 4.78%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart's payout ratio is 123.08%.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of recent research reports. Scotiabank increased their price objective on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and increased their price objective for the company from $44.00 to $50.00 in a research report on Tuesday, May 13th. Evercore ISI increased their price objective on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. BNP Paribas upgraded CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. Finally, Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, CubeSmart currently has a consensus rating of "Hold" and an average price target of $47.38.

CubeSmart Company 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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