Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in CubeSmart (NYSE:CUBE)

Wealth Enhancement Advisory Services LLC reduced its position in shares of CubeSmart (NYSE:CUBE) by 72.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,516 shares of the real estate investment trust’s stock after selling 44,940 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CubeSmart were worth $751,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. purchased a new position in CubeSmart during the fourth quarter worth about $229,000. Employees Retirement System of Texas increased its holdings in CubeSmart by 110.2% in the fourth quarter. Employees Retirement System of Texas now owns 154,500 shares of the real estate investment trust’s stock valued at $6,620,000 after buying an additional 81,000 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in CubeSmart in the fourth quarter valued at about $92,000. GF Fund Management CO. LTD. purchased a new position in CubeSmart in the fourth quarter valued at about $175,000. Finally, PharVision Advisers LLC purchased a new position in CubeSmart in the fourth quarter valued at about $261,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CUBE has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of CubeSmart in a report on Monday, May 19th. They issued an “outperform” rating and a $48.00 target price for the company. Bank of America raised shares of CubeSmart from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $50.00 in a report on Tuesday, May 13th. Scotiabank increased their target price on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Finally, Barclays dropped their target price on shares of CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.36.

CubeSmart Stock Up 0.8%

CUBE stock opened at $43.64 on Wednesday. The stock has a market capitalization of $9.95 billion, a P/E ratio of 24.65, a PEG ratio of 11.58 and a beta of 0.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The company has a 50 day moving average price of $40.88 and a two-hundred day moving average price of $42.27.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $273.04 million during the quarter, compared to analysts’ expectations of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. CubeSmart’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, sell-side analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.77%. CubeSmart’s dividend payout ratio (DPR) is presently 123.08%.

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.