Twinbeech Capital LP Has $3.55 Million Holdings in CubeSmart (NYSE:CUBE)

Twinbeech Capital LP grew its stake in CubeSmart (NYSE:CUBE - Free Report) by 232.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,894 shares of the real estate investment trust's stock after purchasing an additional 57,926 shares during the quarter. Twinbeech Capital LP's holdings in CubeSmart were worth $3,552,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in CubeSmart by 21.8% in the fourth quarter. Tidal Investments LLC now owns 171,810 shares of the real estate investment trust's stock valued at $7,273,000 after buying an additional 30,711 shares during the period. ProShare Advisors LLC boosted its stake in CubeSmart by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 10,581 shares of the real estate investment trust's stock worth $453,000 after acquiring an additional 764 shares during the last quarter. Quantinno Capital Management LP grew its holdings in CubeSmart by 75.8% during the fourth quarter. Quantinno Capital Management LP now owns 135,037 shares of the real estate investment trust's stock valued at $5,786,000 after purchasing an additional 58,232 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in CubeSmart by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,122 shares of the real estate investment trust's stock valued at $1,368,000 after purchasing an additional 590 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in CubeSmart in the fourth quarter worth $2,338,000. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CUBE. 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, May 19th. Evercore ISI boosted their price objective on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Wells Fargo & Company cut 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 note on Friday, February 21st. Royal Bank of Canada lowered their price objective on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Finally, Barclays reduced their target price on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Friday, May 16th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $47.07.

CubeSmart Stock Performance

NYSE CUBE traded down $0.01 on Monday, hitting $41.26. 1,382,833 shares of the stock were exchanged, compared to its average volume of 1,496,434. The business's fifty day moving average is $40.67 and its 200 day moving average is $42.71. The company has a market capitalization of $9.41 billion, a PE ratio of 23.31, a P/E/G ratio of 11.58 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 52 week low of $34.24 and a 52 week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released 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 company had revenue of $273.04 million during the quarter, compared to analysts' expectations of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business's revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Tuesday, July 1st. CubeSmart's 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.