Aster Capital Management DIFC Ltd Has $516,000 Stake in CubeSmart (NYSE:CUBE)

Aster Capital Management DIFC Ltd lifted its stake in CubeSmart (NYSE:CUBE) by 30.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,038 shares of the real estate investment trust’s stock after acquiring an additional 2,795 shares during the period. Aster Capital Management DIFC Ltd’s holdings in CubeSmart were worth $516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in CubeSmart during the fourth quarter worth $21,278,000. Norges Bank acquired a new position in CubeSmart during the 4th quarter worth about $408,064,000. Oak Thistle LLC lifted its position in CubeSmart by 232.9% during the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after buying an additional 22,582 shares in the last quarter. Entropy Technologies LP bought a new stake in CubeSmart during the 4th quarter worth about $445,000. Finally, Franklin Resources Inc. increased its position in CubeSmart by 13.1% in the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after acquiring an additional 36,919 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CUBE shares. Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Barclays cut their target price on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CubeSmart has an average rating of “Hold” and a consensus target price of $48.00.

CubeSmart Trading Down 3.8 %

Shares of NYSE CUBE opened at $39.51 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $39.34 and a twelve month high of $55.14. The company’s fifty day moving average is $41.90 and its 200-day moving average is $45.28. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 11.58 and a beta of 0.85.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.33% and a net margin of 37.79%. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio is 120.93%.

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.