Mount Yale Investment Advisors LLC Sells 4,414 Shares of CubeSmart (NYSE:CUBE)

Mount Yale Investment Advisors LLC reduced its holdings in CubeSmart (NYSE:CUBE) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,754 shares of the real estate investment trust’s stock after selling 4,414 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in CubeSmart were worth $1,300,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. bought a new position in CubeSmart in the 1st quarter worth about $26,000. Rise Advisors LLC purchased a new position in shares of CubeSmart in the 1st quarter worth about $26,000. GAMMA Investing LLC purchased a new position in shares of CubeSmart in the 4th quarter worth about $28,000. Signaturefd LLC boosted its holdings in shares of CubeSmart by 72.5% in the 4th 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. Finally, Ceredex Value Advisors LLC purchased a new position in shares of CubeSmart in the 4th quarter worth about $37,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Up 1.2 %

Shares of NYSE:CUBE traded up $0.57 during trading on Monday, hitting $48.21. The stock had a trading volume of 1,421,899 shares, compared to its average volume of 1,373,863. CubeSmart has a 12 month low of $33.17 and a 12 month high of $49.58. The company has a market capitalization of $10.85 billion, a PE ratio of 26.36, a PEG ratio of 8.24 and a beta of 0.80. The firm’s fifty day moving average is $44.61 and its 200 day moving average is $43.98. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last announced its 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 return on equity of 14.48% and a net margin of 38.64%. The firm had revenue of $261.41 million during the quarter, compared to the consensus estimate of $253.91 million. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s dividend payout ratio is currently 113.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CUBE shares. Evercore ISI upped their price objective on CubeSmart from $44.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. Wells Fargo & Company upped their price objective on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Raymond James upped their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.36.

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.