Quantinno Capital Management LP Grows Stock Position in CubeSmart (NYSE:CUBE)

Quantinno Capital Management LP increased its position in CubeSmart (NYSE:CUBE - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,037 shares of the real estate investment trust's stock after buying an additional 58,232 shares during the period. Quantinno Capital Management LP owned 0.06% of CubeSmart worth $5,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CUBE. Blue Trust Inc. grew its stake in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 389 shares in the last quarter. SRS Capital Advisors Inc. grew its position in 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. UMB Bank n.a. grew its position in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 351 shares during the period. Finally, Huntington National Bank increased its stake in CubeSmart by 307.0% during 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 in the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CUBE shares. Scotiabank raised their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Barclays cut their price target 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, Wolfe Research assumed coverage on CubeSmart in a research note on Monday. They issued an "outperform" rating and a $48.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $47.07.

CubeSmart Stock Performance

Shares of CUBE traded down $0.31 on Friday, reaching $40.96. 300,401 shares of the company's stock traded hands, compared to its average volume of 1,488,549. The stock's 50 day simple moving average is $40.69 and its two-hundred day simple moving average is $42.83. The stock has a market cap of $9.34 billion, a PE ratio of 23.18, a PEG ratio of 11.58 and a beta of 1.00. CubeSmart has a 52-week low of $34.24 and a 52-week 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 announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart's dividend payout ratio 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.