Natixis Advisors LLC Has $2.41 Million Holdings in CubeSmart (NYSE:CUBE)

Key Points

• Natixis Advisors LLC reduced its holdings in CubeSmart by 10.3%, selling 6,455 shares and retaining a total of 56,455 shares valued at $2,411,000.
• CubeSmart reported strong quarterly earnings with an EPS of $0.65, surpassing estimates and showing a year-over-year revenue growth of 6% to $282.30 million.
• The company declared a $0.52 quarterly dividend with an annual yield of 5.4%, although it has a high payout ratio of 126.83%.

Natixis Advisors LLC lowered its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 56,455 shares of the real estate investment trust's stock after selling 6,455 shares during the period. Natixis Advisors LLC's holdings in CubeSmart were worth $2,411,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CUBE. Allworth Financial LP lifted its position in CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC increased its stake in CubeSmart by 446.2% in 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 acquiring an additional 1,468 shares during the last quarter. UMB Bank n.a. increased its stake 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 valued at $82,000 after acquiring an additional 975 shares during the last quarter. CWM LLC increased its stake in CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 371 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in CubeSmart in the fourth quarter valued at approximately $92,000. Institutional investors own 97.61% of the company's stock.

CubeSmart Trading Down 1.6%

CUBE stock traded down $0.65 during midday trading on Friday, hitting $38.85. The stock had a trading volume of 1,335,178 shares, compared to its average volume of 1,968,126. The firm has a market cap of $8.86 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 7.13 and a beta of 0.94. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 1.18. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The business has a fifty day moving average price of $41.97 and a two-hundred day moving average price of $41.53.

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

CubeSmart Announces Dividend

The firm 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Wednesday, October 1st. CubeSmart's dividend payout ratio is currently 126.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CUBE. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $48.00 to $49.00 in a research note on Friday, June 20th. BNP Paribas Exane began coverage on shares of CubeSmart in a research note on Tuesday, June 24th. They set a "neutral" rating and a $46.00 target price on the stock. Scotiabank boosted their target price on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Mizuho boosted their target price on shares of CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Bank of America raised shares of CubeSmart from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $50.00 in a research note on Tuesday, May 13th. Ten 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, the stock has an average rating of "Hold" and an average price target of $46.93.

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.