Kera Capital Partners Inc. Purchases New Shares in CubeSmart (NYSE:CUBE)

Kera Capital Partners Inc. bought a new stake in CubeSmart (NYSE:CUBE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,302 shares of the real estate investment trust's stock, valued at approximately $269,000.

Several other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% in the 4th 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 last quarter. Thrivent Financial for Lutherans increased its position in CubeSmart by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock worth $2,280,000 after buying an additional 306 shares during the period. Magnetar Financial LLC lifted its stake in CubeSmart by 2.3% in the fourth quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock valued at $606,000 after buying an additional 320 shares during the last quarter. Mariner LLC boosted its holdings in shares of CubeSmart by 2.5% during the fourth quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock valued at $585,000 after acquiring an additional 328 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of CubeSmart by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust's stock valued at $299,000 after acquiring an additional 342 shares during the period. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CUBE. Truist Financial increased their price objective on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Barclays dropped their price target on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. Evercore ISI boosted their price target on CubeSmart from $44.00 to $47.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Finally, KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, CubeSmart presently has a consensus rating of "Hold" and an average target price of $47.36.

CubeSmart Price Performance

CUBE stock traded up $0.07 during trading hours on Friday, hitting $42.77. 2,207,742 shares of the stock traded hands, compared to its average volume of 1,507,476. The stock has a 50-day simple moving average of $40.71 and a 200 day simple moving average of $42.57. The company has a market cap of $9.75 billion, a P/E ratio of 24.16, a P/E/G ratio of 11.58 and a beta of 1.00. CubeSmart has a one year low of $34.24 and a one year high of $55.14. 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 posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Equities analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm 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 $0.52 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 annualized dividend and a yield of 4.86%. CubeSmart's dividend payout ratio (DPR) is 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.