Graham Capital Management L.P. Invests $2.36 Million in CubeSmart (NYSE:CUBE)

Graham Capital Management L.P. acquired a new position in CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 55,031 shares of the real estate investment trust's stock, valued at approximately $2,358,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. increased 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 acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp increased its stake in 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 buying an additional 389 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 559 shares during the period. UMB Bank n.a. lifted its position in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 351 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of CubeSmart by 307.0% in the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CUBE. Barclays lowered their price target on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company lowered their target price on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Evercore ISI raised their target price on shares of CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $50.00 in a report on Tuesday. Finally, Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and dropped their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, CubeSmart currently has a consensus rating of "Hold" and a consensus price target of $47.00.

CubeSmart Trading Up 0.9%

CUBE stock traded up $0.38 during midday trading on Thursday, reaching $42.66. 1,635,797 shares of the company traded hands, compared to its average volume of 1,484,625. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 24.10, a P/E/G 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 business has a 50 day moving average of $40.59 and a 200-day moving average of $43.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 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 company had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. During the same period in the previous year, the firm earned $0.64 earnings per share. CubeSmart's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. 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.