LRT Capital Management LLC Boosts Stock Position in CubeSmart (NYSE:CUBE)

LRT Capital Management LLC increased its position in CubeSmart (NYSE:CUBE - Free Report) by 98.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,590 shares of the real estate investment trust's stock after buying an additional 18,170 shares during the quarter. CubeSmart accounts for approximately 1.6% of LRT Capital Management LLC's investment portfolio, making the stock its 22nd largest position. LRT Capital Management LLC's holdings in CubeSmart were worth $1,696,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust's stock worth $32,000 after buying an additional 292 shares during the period. Ceredex Value Advisors LLC acquired a new position in CubeSmart during the 4th quarter worth about $37,000. Quarry LP acquired a new position in CubeSmart during the 2nd quarter worth about $37,000. Sunbelt Securities Inc. acquired a new position in CubeSmart during the 1st quarter worth about $46,000. Finally, Covestor Ltd lifted its holdings in CubeSmart by 65.8% during the 3rd quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust's stock worth $55,000 after buying an additional 573 shares during the period. Institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CUBE. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a report on Tuesday, January 30th. They set a "sell" rating and a $40.00 price target for the company. Barclays began coverage on shares of CubeSmart in a report on Wednesday, March 27th. They set an "equal weight" rating and a $48.00 price target for the company. Raymond James restated an "outperform" rating and set a $48.00 price target on shares of CubeSmart in a report on Thursday, March 28th. Truist Financial increased their price target on CubeSmart from $43.00 to $46.00 and gave the stock a "hold" rating in a report on Thursday, December 28th. Finally, Wells Fargo & Company increased their price target on CubeSmart from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.33.

CubeSmart Stock Up 0.5 %

Shares of NYSE CUBE traded up $0.19 during midday trading on Friday, hitting $42.05. 868,975 shares of the stock traded hands, compared to its average volume of 1,198,815. The company has a market cap of $9.46 billion, a PE ratio of 23.23 and a beta of 0.69. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The business has a 50 day moving average price of $43.89 and a two-hundred day moving average price of $42.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.85%. CubeSmart's dividend payout ratio is 112.71%.

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.