Tidal Investments LLC Purchases 30,711 Shares of CubeSmart (NYSE:CUBE)

Tidal Investments LLC increased its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,810 shares of the real estate investment trust's stock after purchasing an additional 30,711 shares during the quarter. Tidal Investments LLC owned 0.08% of CubeSmart worth $7,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC raised its stake in CubeSmart by 7.8% during the fourth quarter. ProShare Advisors LLC now owns 10,581 shares of the real estate investment trust's stock worth $453,000 after acquiring an additional 764 shares in the last quarter. Quantinno Capital Management LP raised its stake in CubeSmart by 75.8% during the fourth quarter. Quantinno Capital Management LP now owns 135,037 shares of the real estate investment trust's stock worth $5,786,000 after acquiring an additional 58,232 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in CubeSmart by 1.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,122 shares of the real estate investment trust's stock worth $1,368,000 after acquiring an additional 590 shares in the last quarter. Nomura Holdings Inc. acquired a new position in CubeSmart during the fourth quarter worth about $2,338,000. Finally, Nuveen Asset Management LLC raised its stake in CubeSmart by 11.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,118 shares of the real estate investment trust's stock worth $53,096,000 after acquiring an additional 127,086 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CUBE shares. Wolfe Research started coverage on CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 target price for the company. Wells Fargo & Company lowered their price objective on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Evercore ISI upped their price objective on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Barclays lowered their price objective on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Friday, May 16th. Finally, KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CubeSmart has a consensus rating of "Hold" and a consensus price target of $47.07.

CubeSmart Trading Down 0.0%

CUBE stock traded down $0.01 during trading on Friday, hitting $41.26. The company had a trading volume of 1,382,833 shares, compared to its average volume of 1,496,434. The business has a 50-day moving average of $40.67 and a 200-day moving average of $42.75. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The stock has a market cap of $9.41 billion, a PE ratio of 23.31, a PEG ratio of 11.58 and a beta of 1.00. 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, beating the consensus estimate of $0.62 by $0.02. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $273.04 million for the quarter, compared to analysts' expectations of $268.16 million. During the same period in the prior year, the business posted $0.64 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. Research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 5.04%. The ex-dividend date is Tuesday, July 1st. CubeSmart's dividend payout ratio is presently 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.