Sei Investments Co. Has $26.35 Million Stock Position in CubeSmart (NYSE:CUBE)

Sei Investments Co. lessened its position in shares of CubeSmart (NYSE:CUBE) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 614,937 shares of the real estate investment trust’s stock after selling 152,452 shares during the quarter. Sei Investments Co. owned about 0.27% of CubeSmart worth $26,350,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CUBE. Raymond James Financial Inc. acquired a new position in CubeSmart during the 4th quarter valued at about $21,278,000. Oak Thistle LLC lifted its holdings in CubeSmart by 232.9% in the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after buying an additional 22,582 shares during the period. Entropy Technologies LP bought a new position in CubeSmart in the fourth quarter valued at approximately $445,000. BNP Paribas Financial Markets grew its holdings in CubeSmart by 32.9% during 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. Finally, Franklin Resources Inc. raised its position in shares of CubeSmart by 13.1% during the 3rd 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 during the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

CUBE has been the topic of several recent research reports. Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Trading Up 1.0 %

Shares of NYSE:CUBE opened at $41.47 on Thursday. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 11.58 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company’s fifty day simple moving average is $41.87 and its 200 day simple moving average is $45.93.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 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 return on equity of 14.33% and a net margin of 37.79%. As a group, research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. CubeSmart’s dividend payout ratio is currently 120.93%.

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.