PharVision Advisers LLC Buys Shares of 6,094 CubeSmart (NYSE:CUBE)

PharVision Advisers LLC purchased a new position in CubeSmart (NYSE:CUBE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 6,094 shares of the real estate investment trust's stock, valued at approximately $261,000.

A number of other large investors also recently modified their holdings of the business. Blue Trust Inc. increased its position in 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 acquiring an additional 289 shares during the period. Thrivent Financial for Lutherans grew its position in CubeSmart by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock worth $2,280,000 after purchasing an additional 306 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of CubeSmart by 2.3% during the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after purchasing an additional 320 shares during the period. Mariner LLC increased its holdings in shares of CubeSmart by 2.5% during the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock worth $585,000 after purchasing an additional 328 shares during the period. Finally, CIBC Asset Management Inc raised its position 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 buying an additional 342 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CUBE has been the topic of several research reports. KeyCorp upgraded 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. Wolfe Research initiated coverage on CubeSmart in a research report on Monday. They set an "outperform" rating and a $48.00 price objective on the stock. 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. Evercore ISI lifted their price target on shares of CubeSmart from $44.00 to $47.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Finally, Scotiabank boosted their price target on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.07.

CubeSmart Price Performance

NYSE:CUBE opened at $41.58 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market cap of $9.48 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The company's 50-day moving average price is $40.71 and its two-hundred day moving average price is $42.88.

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

CubeSmart Dividend Announcement

The firm also recently declared 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 dividend yield of 5.00%. CubeSmart's dividend payout ratio 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.

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