17,924 Shares in CubeSmart (NYSE:CUBE) Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd bought a new stake in CubeSmart (NYSE:CUBE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,924 shares of the real estate investment trust's stock, valued at approximately $768,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp raised its holdings in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 559 shares during the period. Huntington National Bank grew its stake in shares of CubeSmart by 307.0% in the 4th 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 during the period. Finally, Quantbot Technologies LP bought a new stake in CubeSmart during the 4th quarter worth approximately $58,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CUBE shares. Wolfe Research started coverage on CubeSmart in a research report on Monday, May 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Evercore ISI upped their target price on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and boosted their price target for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Barclays cut their target price 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, Scotiabank upped their price target on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CubeSmart presently has a consensus rating of "Hold" and an average target price of $47.33.

CubeSmart Stock Up 1.5%

NYSE CUBE traded up $0.63 during trading hours on Thursday, hitting $42.67. The company's stock had a trading volume of 2,156,541 shares, compared to its average volume of 1,502,548. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14. The company has a market capitalization of $9.73 billion, a PE ratio of 24.11, a price-to-earnings-growth 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. The company's 50-day simple moving average is $40.68 and its two-hundred day simple moving average is $42.61.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $273.04 million for the quarter, compared to analysts' expectations of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Tuesday, July 1st. CubeSmart's dividend payout ratio (DPR) is 123.08%.

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.