Gotham Asset Management LLC Has $1.20 Million Holdings in CubeSmart (NYSE:CUBE)

Gotham Asset Management LLC cut its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,099 shares of the real estate investment trust's stock after selling 12,431 shares during the period. Gotham Asset Management LLC's holdings in CubeSmart were worth $1,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of CubeSmart by 54.0% in the third quarter. Barclays PLC now owns 330,549 shares of the real estate investment trust's stock valued at $17,793,000 after acquiring an additional 115,904 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in CubeSmart by 15.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 8,167 shares of the real estate investment trust's stock valued at $350,000 after purchasing an additional 1,090 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of CubeSmart by 55.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 24,940 shares of the real estate investment trust's stock valued at $1,069,000 after purchasing an additional 8,873 shares during the period. Lake Street Private Wealth LLC raised its stake in shares of CubeSmart by 7.6% in the 4th quarter. Lake Street Private Wealth LLC now owns 51,342 shares of the real estate investment trust's stock worth $2,200,000 after buying an additional 3,636 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in CubeSmart by 22.5% during the fourth quarter. Arkadios Wealth Advisors now owns 7,713 shares of the real estate investment trust's stock worth $331,000 after acquiring an additional 1,415 shares during the period. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Down 0.4%

CubeSmart stock traded down $0.17 during trading hours on Thursday, hitting $41.40. The company had a trading volume of 836,807 shares, compared to its average volume of 1,488,438. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $9.44 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. The firm's fifty day moving average is $40.71 and its 200-day moving average is $42.88.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly 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 net margin of 37.79% and a return on equity of 14.33%. 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 previous year, the company posted $0.64 EPS. CubeSmart's revenue was up 4.4% on a year-over-year basis. On average, research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. CubeSmart's dividend payout ratio is currently 123.08%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CUBE. Wells Fargo & Company reduced their target price on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Truist Financial raised their price objective on CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday. Wolfe Research assumed coverage on CubeSmart in a research report on Monday. They set an "outperform" rating and a $48.00 target price on the stock. Royal Bank of Canada decreased their price target on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Finally, KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock 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 stock. According to data from MarketBeat, CubeSmart currently has an average rating of "Hold" and a consensus price target of $47.07.

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.