CubeSmart (NYSE:CUBE) Shares Bought by Albion Financial Group UT

Albion Financial Group UT lifted its stake in CubeSmart (NYSE:CUBE) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,528 shares of the real estate investment trust’s stock after acquiring an additional 2,020 shares during the period. Albion Financial Group UT’s holdings in CubeSmart were worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CUBE. Norges Bank acquired a new stake in shares of CubeSmart during the fourth quarter valued at approximately $444,818,000. Allspring Global Investments Holdings LLC raised its holdings in shares of CubeSmart by 0.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,850,149 shares of the real estate investment trust’s stock valued at $174,104,000 after acquiring an additional 11,233 shares during the period. Truist Financial Corp raised its holdings in shares of CubeSmart by 14.5% during the fourth quarter. Truist Financial Corp now owns 3,516,173 shares of the real estate investment trust’s stock valued at $162,975,000 after acquiring an additional 445,228 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of CubeSmart by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,230,215 shares of the real estate investment trust’s stock valued at $149,726,000 after acquiring an additional 22,105 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of CubeSmart by 1,915.7% during the third quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock valued at $116,609,000 after acquiring an additional 2,906,478 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Up 0.6 %

CUBE stock traded up $0.26 during trading hours on Wednesday, hitting $44.25. The company’s stock had a trading volume of 467,733 shares, compared to its average volume of 1,397,252. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $42.97 and a two-hundred day moving average price of $43.92. The company has a market capitalization of $9.95 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 5.49 and a beta of 0.80. CubeSmart has a 12 month low of $33.17 and a 12 month high of $47.81.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.22). The firm 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%. CubeSmart’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Monday, July 1st. CubeSmart’s dividend payout ratio is currently 113.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CUBE. Wells Fargo & Company boosted their price target on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Raymond James restated an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a report on Thursday, March 28th. BMO Capital Markets lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Finally, Barclays began coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective on the stock. One investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

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.