Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 317,018 CubeSmart (NYSE:CUBE)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 317,018 shares of the real estate investment trust's stock, valued at approximately $13,540,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of CubeSmart as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of 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 valued at $2,280,000 after purchasing an additional 306 shares in the last quarter. Quantbot Technologies LP bought a new position in CubeSmart during the 4th quarter valued at $58,000. KLP Kapitalforvaltning AS bought a new position in CubeSmart during the 4th quarter valued at $2,134,000. Fox Run Management L.L.C. bought a new position in CubeSmart during the 4th quarter valued at $206,000. Finally, LPL Financial LLC boosted its stake in CubeSmart by 19.2% during the 4th quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust's stock valued at $4,654,000 after acquiring an additional 17,518 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Performance

CUBE traded down $0.06 during midday trading on Monday, reaching $41.36. The company had a trading volume of 216,378 shares, compared to its average volume of 1,773,466. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average of $42.41 and a two-hundred day moving average of $41.60. The company has a market cap of $9.43 billion, a P/E ratio of 24.49, a P/E/G ratio of 7.61 and a beta of 0.96. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14.

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 (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. As a group, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.03%. CubeSmart's dividend payout ratio is presently 123.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CUBE. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $49.00 in a research report on Friday, June 20th. BNP Paribas raised shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. Barclays lowered their price target on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Finally, BNP Paribas Exane initiated coverage on shares of CubeSmart in a research note on Tuesday, June 24th. They set a "neutral" rating and a $46.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, CubeSmart has a consensus rating of "Hold" and an average target price of $47.20.

CubeSmart 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.