TD Private Client Wealth LLC Has $84,000 Stock Holdings in CubeSmart (NYSE:CUBE)

TD Private Client Wealth LLC trimmed its position in CubeSmart (NYSE:CUBE) by 83.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,971 shares of the real estate investment trust’s stock after selling 10,281 shares during the quarter. TD Private Client Wealth LLC’s holdings in CubeSmart were worth $84,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 389 shares during the period. Versant Capital Management Inc lifted its stake in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of CubeSmart by 310.6% during 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. Finally, UMB Bank n.a. grew its stake in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $41.11 on Wednesday. The firm has a 50 day simple moving average of $41.85 and a 200 day simple moving average of $45.96. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a one year low of $39.80 and a one 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.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share 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 for the quarter, compared to the consensus estimate of $267.54 million. Research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 120.93%.

Analyst Ratings Changes

Several analysts have weighed in on CUBE shares. Scotiabank cut shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Barclays reduced their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, Wells Fargo & Company dropped their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.00.

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.