CubeSmart (NYSE:CUBE) Shares Purchased by Davidson Investment Advisors

Davidson Investment Advisors lifted its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350,627 shares of the real estate investment trust's stock after buying an additional 9,717 shares during the quarter. Davidson Investment Advisors owned approximately 0.15% of CubeSmart worth $14,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBE. Jones Financial Companies Lllp grew its holdings in 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 acquiring an additional 389 shares in the last quarter. Huntington National Bank boosted its stake in shares of CubeSmart by 307.0% during the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 915 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $58,000. Farther Finance Advisors LLC boosted its stake in shares of CubeSmart by 446.2% during the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 1,468 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of CubeSmart by 103.5% during the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 975 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

CubeSmart Stock Down 0.3%

NYSE CUBE traded down $0.13 during trading on Thursday, hitting $42.33. The company's stock had a trading volume of 1,541,765 shares, compared to its average volume of 1,563,983. The business's 50 day simple moving average is $42.65 and its 200-day simple moving average is $41.67. The company has a market cap of $9.65 billion, a PE ratio of 25.05, a P/E/G ratio of 7.83 and a beta of 0.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.07 and a quick ratio of 0.07. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results 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. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The company had revenue of $273.04 million during the quarter, compared to analysts' expectations of $268.16 million. During the same period last year, the business earned $0.64 EPS. CubeSmart's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. CubeSmart's dividend payout ratio is currently 123.08%.

Wall Street Analysts Forecast Growth

CUBE has been the topic of several recent research reports. BNP Paribas raised CubeSmart to a "hold" rating in a research report on Tuesday, June 24th. BMO Capital Markets raised CubeSmart from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $48.00 to $49.00 in a research report on Friday, June 20th. Barclays dropped their price objective on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Truist Financial raised their price objective on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, BNP Paribas Exane began coverage on shares of CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, CubeSmart currently has an average rating of "Hold" and a consensus price target of $47.38.

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.