SYSTM Wealth Solutions LLC Cuts Stock Position in CubeSmart (NYSE:CUBE)

SYSTM Wealth Solutions LLC lowered its stake in CubeSmart (NYSE:CUBE) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,462 shares of the real estate investment trust’s stock after selling 11,663 shares during the period. SYSTM Wealth Solutions LLC’s holdings in CubeSmart were worth $3,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 323 shares during the last quarter. Rise Advisors LLC purchased a new stake in CubeSmart during the 1st quarter valued at $26,000. Mather Group LLC. purchased a new stake in CubeSmart during the 1st quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in CubeSmart during the 2nd quarter valued at $33,000. Finally, Larson Financial Group LLC purchased a new stake in CubeSmart during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $54.04 on Wednesday. CubeSmart has a one year low of $33.17 and a one year high of $54.68. The stock’s fifty day moving average is $49.40 and its 200 day moving average is $45.54. The stock has a market cap of $12.17 billion, a P/E ratio of 30.02, a P/E/G ratio of 9.98 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $260.68 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. CubeSmart’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.77%. CubeSmart’s payout ratio is 113.33%.

Analysts Set New Price Targets

CUBE has been the topic of several recent analyst reports. Royal Bank of Canada initiated coverage on CubeSmart in a research note on Tuesday, September 10th. They set an “outperform” rating and a $56.00 target price on the stock. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $50.00 to $47.00 in a research note on Wednesday, May 29th. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised their price target on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and an average price target of $49.75.

Insider Activity

In other news, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total value of $1,792,650.00. Following the transaction, the chief executive officer now directly owns 576,836 shares in the company, valued at $27,947,704.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Joel D. Keaton sold 43,478 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the sale, the chief operating officer now directly owns 87,663 shares in the company, valued at $4,205,194.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total value of $1,792,650.00. Following the completion of the sale, the chief executive officer now owns 576,836 shares in the company, valued at $27,947,704.20. The disclosure for this sale can be found here. Insiders have sold 88,217 shares of company stock worth $4,244,344 over the last ninety days. Corporate insiders own 1.68% of the company’s stock.

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.