Stevens Capital Management LP Takes Position in CubeSmart (NYSE:CUBE)

Stevens Capital Management LP bought a new position in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,129 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of CubeSmart during the 4th quarter worth approximately $21,278,000. Oak Thistle LLC boosted its holdings in 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 buying an additional 22,582 shares in the last quarter. Entropy Technologies LP acquired a new stake in CubeSmart during the fourth quarter valued at $445,000. BNP Paribas Financial Markets increased its holdings in CubeSmart by 32.9% in the third quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock valued at $8,531,000 after buying an additional 39,270 shares in the last quarter. Finally, Franklin Resources Inc. raised its position 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 worth $15,950,000 after acquiring an additional 36,919 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Finally, Barclays decreased their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus price target of $48.00.

CubeSmart Price Performance

CUBE stock opened at $41.79 on Tuesday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $9.52 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The business has a 50 day simple moving average of $41.84 and a 200-day simple moving average of $46.04.

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

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.98%. CubeSmart’s payout ratio is 120.93%.

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.