Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in CubeSmart (NYSE:CUBE)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 72.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,516 shares of the real estate investment trust's stock after selling 44,940 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in CubeSmart were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CUBE. Blue Trust Inc. raised its holdings in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares during the period. Thrivent Financial for Lutherans increased its position in 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 worth $2,280,000 after buying an additional 306 shares in the last quarter. Magnetar Financial LLC increased its position in CubeSmart by 2.3% in the fourth quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after buying an additional 320 shares in the last quarter. Mariner LLC raised its stake in shares of CubeSmart by 2.5% in the fourth quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock worth $585,000 after buying an additional 328 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of CubeSmart by 5.1% during the 4th 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 in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Down 0.9%

Shares of NYSE:CUBE traded down $0.39 during trading on Friday, reaching $42.97. The company's stock had a trading volume of 1,241,151 shares, compared to its average volume of 1,519,016. The stock has a market capitalization of $9.80 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 11.58 and a beta of 0.98. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm's 50 day simple moving average is $41.08 and its two-hundred day simple moving average is $42.23. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14.

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, topping the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. During the same quarter last year, the firm earned $0.64 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 annualized dividend and a yield of 4.84%. CubeSmart's dividend payout ratio (DPR) is currently 123.08%.

Analyst Ratings Changes

A number of research firms have commented on CUBE. Wolfe Research assumed coverage on shares of CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 target price on the stock. Mizuho lifted their target price on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Scotiabank increased their price target on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Wells Fargo & Company lowered their price objective on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Finally, Truist Financial upped 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $47.36.

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.