Signaturefd LLC Buys 292 Shares of CubeSmart (NYSE:CUBE)

Signaturefd LLC boosted its stake in CubeSmart (NYSE:CUBE) by 72.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 695 shares of the real estate investment trust’s stock after purchasing an additional 292 shares during the period. Signaturefd LLC’s holdings in CubeSmart were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC purchased a new position in shares of CubeSmart during the fourth quarter valued at approximately $745,000. Carmel Capital Partners LLC raised its holdings in CubeSmart by 24.7% in the 4th quarter. Carmel Capital Partners LLC now owns 7,971 shares of the real estate investment trust’s stock worth $369,000 after purchasing an additional 1,578 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of CubeSmart in the 4th quarter worth about $229,000. Federated Hermes Inc. lifted its position in shares of CubeSmart by 16.8% in the 4th quarter. Federated Hermes Inc. now owns 37,918 shares of the real estate investment trust’s stock worth $1,757,000 after purchasing an additional 5,448 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CubeSmart by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,325 shares of the real estate investment trust’s stock valued at $5,994,000 after purchasing an additional 11,848 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.7 %

Shares of CubeSmart stock opened at $41.74 on Friday. The company has a 50-day simple moving average of $43.49 and a two-hundred day simple moving average of $42.35. The stock has a market capitalization of $9.39 billion, a PE ratio of 23.19 and a beta of 0.72. CubeSmart has a 52-week low of $33.17 and a 52-week high of $47.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The company had revenue of $261.41 million for the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. CubeSmart’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts anticipate that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio is 113.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays started coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price target for the company. Evercore ISI lifted their price target on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft initiated coverage on CubeSmart in a research report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and issued a $48.00 target price on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Wells Fargo & Company lifted their price target on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus price target of $46.33.

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.