Swiss National Bank Has $20.53 Million Position in CubeSmart (NYSE:CUBE)

Swiss National Bank cut its position in shares of CubeSmart (NYSE:CUBE) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 443,000 shares of the real estate investment trust’s stock after selling 50,900 shares during the quarter. Swiss National Bank’s holdings in CubeSmart were worth $20,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in CubeSmart during the fourth quarter worth about $28,000. Signaturefd LLC lifted its position in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of CubeSmart in the fourth quarter valued at approximately $37,000. HHM Wealth Advisors LLC boosted its stake in shares of CubeSmart by 53.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 359 shares during the period. Finally, Private Trust Co. NA increased its holdings in shares of CubeSmart by 182.9% during the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 898 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CubeSmart Trading Down 1.5 %

Shares of NYSE:CUBE opened at $41.64 on Thursday. The business’s 50 day simple moving average is $43.40 and its 200 day simple moving average is $42.53. CubeSmart has a 1 year low of $33.17 and a 1 year high of $47.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $9.37 billion, a P/E ratio of 23.13 and a beta of 0.72.

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

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

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.