Belpointe Asset Management LLC Has $270,000 Stock Position in CubeSmart (NYSE:CUBE)

Belpointe Asset Management LLC cut its position in CubeSmart (NYSE:CUBEFree Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,830 shares of the real estate investment trust’s stock after selling 519 shares during the quarter. Belpointe Asset Management LLC’s holdings in CubeSmart were worth $270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CUBE. Victory Capital Management Inc. grew its holdings in CubeSmart by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 39,608 shares of the real estate investment trust’s stock valued at $1,510,000 after buying an additional 831 shares during the last quarter. Swiss National Bank raised its stake in CubeSmart by 0.6% during the 3rd quarter. Swiss National Bank now owns 493,900 shares of the real estate investment trust’s stock valued at $18,832,000 after purchasing an additional 2,900 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in CubeSmart by 92.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,841,190 shares of the real estate investment trust’s stock valued at $70,205,000 after purchasing an additional 886,616 shares during the period. Charles Schwab Investment Management Inc. grew its position in CubeSmart by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,780,476 shares of the real estate investment trust’s stock worth $106,020,000 after purchasing an additional 42,561 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of CubeSmart by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 73,964 shares of the real estate investment trust’s stock worth $2,820,000 after purchasing an additional 1,290 shares during the period. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

CUBE has been the subject of several research reports. Wells Fargo & Company increased their target price 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. Evercore ISI raised their target price on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Barclays began coverage on shares of CubeSmart in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price target on the stock. BMO Capital Markets downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. Finally, Raymond James reissued an “outperform” rating and issued a $48.00 price target on shares of CubeSmart in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.17.

Get Our Latest Report on CUBE

CubeSmart Stock Down 1.6 %

Shares of CUBE opened at $42.50 on Friday. The company has a market capitalization of $9.56 billion, a P/E ratio of 23.61, a PEG ratio of 5.26 and a beta of 0.77. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The business’s 50 day simple moving average is $42.77 and its 200-day simple moving average is $43.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart (NYSE:CUBEGet Free Report) last released 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 business had revenue of $261.41 million for 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%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 4.80%. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

CubeSmart Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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