CubeSmart (NYSE:CUBE) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its position in CubeSmart (NYSE:CUBE - Free Report) by 176.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,283 shares of the real estate investment trust's stock after buying an additional 12,296 shares during the period. Tower Research Capital LLC TRC's holdings in CubeSmart were worth $826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mesirow Institutional Investment Management Inc. grew its stake in CubeSmart by 20.9% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 80,420 shares of the real estate investment trust's stock valued at $3,446,000 after acquiring an additional 13,904 shares during the period. MetLife Investment Management LLC grew its position in shares of CubeSmart by 8.8% in the fourth quarter. MetLife Investment Management LLC now owns 134,082 shares of the real estate investment trust's stock valued at $5,745,000 after purchasing an additional 10,880 shares during the period. Natixis purchased a new stake in shares of CubeSmart during the fourth quarter worth about $1,355,000. Capital World Investors raised its position in shares of CubeSmart by 184.5% during the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock worth $126,161,000 after purchasing an additional 1,909,496 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in CubeSmart by 851.2% in the 4th quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust's stock worth $48,498,000 after buying an additional 1,012,816 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of research analyst reports. Evercore ISI increased their target price on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a report on Friday. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and decreased their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Mizuho started coverage on shares of CubeSmart in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 target price for the company. Wells Fargo & Company cut their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Finally, KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CubeSmart currently has a consensus rating of "Hold" and an average target price of $46.85.

CubeSmart Trading Up 4.2 %

Shares of CUBE stock traded up $1.73 during trading hours on Friday, hitting $42.68. The company had a trading volume of 985,985 shares, compared to its average volume of 1,761,276. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market capitalization of $9.77 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The company's fifty day moving average is $40.55 and its 200 day moving average is $43.46. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $273.04 million for the quarter, compared to analysts' expectations of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Research analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.87%. CubeSmart's dividend payout ratio is presently 120.93%.

About CubeSmart

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.