Inceptionr LLC Trims Stock Position in CubeSmart (NYSE:CUBE)

Inceptionr LLC reduced its stake in CubeSmart (NYSE:CUBE) by 71.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,245 shares of the real estate investment trust’s stock after selling 18,102 shares during the quarter. Inceptionr LLC’s holdings in CubeSmart were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Oak Thistle LLC lifted its holdings in shares of CubeSmart by 232.9% during the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 22,582 shares during the period. Entropy Technologies LP purchased a new position in CubeSmart during the 4th quarter worth $445,000. BNP Paribas Financial Markets lifted its stake in shares of CubeSmart by 32.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after acquiring an additional 39,270 shares during the period. Franklin Resources Inc. boosted its holdings in shares of CubeSmart by 13.1% in the third quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock valued at $15,950,000 after acquiring an additional 36,919 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of CubeSmart during the third quarter worth about $628,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Trading Up 1.5 %

Shares of CUBE opened at $42.91 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The firm has a 50 day simple moving average of $41.78 and a 200-day simple moving average of $46.78.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Equities analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.85%. CubeSmart’s payout ratio is currently 120.93%.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.08.

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.