D.A. Davidson & CO. Purchases 17,136 Shares of CubeSmart $CUBE

D.A. Davidson & CO. increased its position in CubeSmart (NYSE:CUBE) by 127.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,531 shares of the real estate investment trust’s stock after purchasing an additional 17,136 shares during the period. D.A. Davidson & CO.’s holdings in CubeSmart were worth $1,241,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Norges Bank acquired a new position in CubeSmart during the second quarter worth $458,008,000. Allspring Global Investments Holdings LLC raised its holdings in shares of CubeSmart by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock worth $216,986,000 after acquiring an additional 27,278 shares during the last quarter. Invesco Ltd. lifted its position in CubeSmart by 0.8% in the 2nd quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock valued at $137,678,000 after acquiring an additional 25,994 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CubeSmart by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock valued at $137,171,000 after purchasing an additional 44,288 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in CubeSmart by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,222,338 shares of the real estate investment trust’s stock worth $94,449,000 after purchasing an additional 12,513 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUBE. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Mizuho reduced their target price on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the stock a “buy” rating in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $44.87.

CubeSmart Trading Up 1.7%

NYSE CUBE opened at $37.68 on Friday. The business’s fifty day moving average is $36.46 and its 200-day moving average is $39.32. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 8.21 and a beta of 1.11. CubeSmart has a one year low of $34.24 and a one year high of $44.13.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a $0.53 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.6%. CubeSmart’s payout ratio is presently 135.90%.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.