Farther Finance Advisors LLC Boosts Position in CubeSmart (NYSE:CUBE)

Farther Finance Advisors LLC increased its stake in CubeSmart (NYSE:CUBE) by 446.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,797 shares of the real estate investment trust’s stock after buying an additional 1,468 shares during the period. Farther Finance Advisors LLC’s holdings in CubeSmart were worth $76,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the period. Jones Financial Companies Lllp increased its stake in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 389 shares during the period. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 559 shares during the period. Huntington National Bank grew its holdings in CubeSmart by 307.0% during the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 915 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in CubeSmart during the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial increased their target price on shares of CubeSmart from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Bank of America upgraded shares of CubeSmart from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 stock a “sector perform” rating in a report on Monday, May 12th. Evercore ISI increased their target price on shares of CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. Finally, BMO Capital Markets upgraded shares of CubeSmart from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $49.00 in a report on Friday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus target price of $47.47.

CubeSmart Stock Down 0.8%

NYSE:CUBE opened at $42.37 on Monday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The stock has a market capitalization of $9.66 billion, a P/E ratio of 25.07, a P/E/G ratio of 7.79 and a beta of 0.98. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.07 and a current ratio of 0.07. The company’s 50-day simple moving average is $41.76 and its 200-day simple moving average is $41.87.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The business had revenue of $273.04 million for the quarter, compared to analysts’ expectations of $268.16 million. During the same period last year, the business earned $0.64 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart’s payout ratio is currently 123.08%.

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.