CubeSmart (NYSE:CUBE) Shares Sold by Versor Investments LP

Versor Investments LP reduced its holdings in CubeSmart (NYSE:CUBE - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,184 shares of the real estate investment trust's stock after selling 26,100 shares during the quarter. Versor Investments LP's holdings in CubeSmart were worth $796,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in CubeSmart in the fourth quarter worth about $28,000. Signaturefd LLC raised its holdings in CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 292 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in CubeSmart in the fourth quarter worth $37,000. HHM Wealth Advisors LLC lifted its position in CubeSmart by 53.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 359 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of CubeSmart by 182.9% during the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 898 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of CubeSmart from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, March 4th. Raymond James reissued an "outperform" rating and issued a $48.00 price target on shares of CubeSmart in a research report on Thursday, March 28th. Barclays began coverage on CubeSmart in a research note on Wednesday, March 27th. They issued an "equal weight" rating and a $48.00 price target on the stock. Wells Fargo & Company lifted their price objective on CubeSmart from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research note on Tuesday, January 30th. They issued a "sell" rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CubeSmart currently has an average rating of "Hold" and a consensus price target of $46.33.

CubeSmart Stock Performance

Shares of CUBE stock traded up $0.23 during mid-day trading on Friday, reaching $42.69. 735,275 shares of the company's stock traded hands, compared to its average volume of 1,392,608. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market capitalization of $9.60 billion, a PE ratio of 23.72 and a beta of 0.72. CubeSmart has a 12 month low of $33.17 and a 12 month high of $47.81. The firm has a 50 day moving average price of $43.36 and a two-hundred day moving average price of $42.64.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.22). CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The company had revenue of $261.41 million for the quarter, compared to the consensus estimate of $253.91 million. During the same period in the prior year, the firm posted $0.65 EPS. The business's revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart's payout ratio is 113.33%.

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.