Deutsche Bank AG Acquires 177,801 Shares of CubeSmart (NYSE:CUBE)

Key Points

• Deutsche Bank AG increased its stake in CubeSmart (NYSE:CUBE) by 6.5%, owning approximately 2.9 million shares worth around $124.6 million.
• CubeSmart reported a quarterly EPS of $0.65, exceeding analysts' expectations, and had a 6.0% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.52, which equates to an annual dividend yield of 5.4% and a high payout ratio of 126.83%.

Deutsche Bank AG raised its holdings in CubeSmart (NYSE:CUBE - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,916,867 shares of the real estate investment trust's stock after purchasing an additional 177,801 shares during the period. Deutsche Bank AG owned 1.28% of CubeSmart worth $124,579,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Allworth Financial LP increased its position in shares of CubeSmart by 115.2% during the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 501 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of 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 valued at $76,000 after acquiring an additional 1,468 shares during the last quarter. UMB Bank n.a. lifted its position in CubeSmart by 103.5% in the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock worth $82,000 after buying an additional 975 shares during the last quarter. CWM LLC increased its stake in shares of CubeSmart by 23.5% during the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after buying an additional 371 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in CubeSmart in the fourth quarter valued at about $92,000. 97.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CUBE shares. Scotiabank lifted their target price on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. BNP Paribas upgraded CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Evercore ISI decreased their target price on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research note on Monday, August 4th. Wolfe Research began coverage on CubeSmart in a report on Monday, May 19th. They issued an "outperform" rating and a $48.00 price objective for the company. Finally, BNP Paribas Exane started coverage on CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $46.93.

CubeSmart Stock Up 0.3%

Shares of NYSE CUBE traded up $0.13 during mid-day trading on Tuesday, hitting $38.84. The company had a trading volume of 1,571,165 shares, compared to its average volume of 1,909,761. The company has a market capitalization of $8.86 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 8.62 and a beta of 0.94. The firm has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $41.49. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a one year low of $34.24 and a one year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. On average, equities analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 annualized dividend and a yield of 5.4%. CubeSmart's payout ratio is presently 126.83%.

CubeSmart 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.