CubeSmart (NYSE:CUBE) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its holdings in shares of CubeSmart (NYSE:CUBE) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,194 shares of the real estate investment trust’s stock after selling 316 shares during the period. Moran Wealth Management LLC’s holdings in CubeSmart were worth $1,337,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after acquiring an additional 1,282,995 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CubeSmart in the 4th quarter valued at about $21,278,000. SG Americas Securities LLC increased its holdings in shares of CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after purchasing an additional 484,049 shares in the last quarter. Presima Securities ULC lifted its stake in shares of CubeSmart by 4,092.4% in the fourth quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after purchasing an additional 433,790 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in CubeSmart by 6.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock worth $144,320,000 after buying an additional 191,862 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $42.16 on Wednesday. The company has a 50-day simple moving average of $41.78 and a 200-day simple moving average of $46.66. 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 company has a market cap of $9.61 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million during the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. On average, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.93%. CubeSmart’s payout ratio is currently 120.93%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CUBE. Barclays reduced their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. KeyCorp raised 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. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.08.

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.