Gallacher Capital Management LLC Sells 443 Shares of CubeSmart (NYSE:CUBE)

Gallacher Capital Management LLC lowered its position in shares of CubeSmart (NYSE:CUBE) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,806 shares of the real estate investment trust’s stock after selling 443 shares during the period. Gallacher Capital Management LLC’s holdings in CubeSmart were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares during the last quarter. Blue Trust Inc. grew its position in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 389 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of CubeSmart in the 3rd quarter valued at about $33,000. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CUBE shares. Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Barclays cut their target price 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. Wells Fargo & Company cut their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, 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. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.00.

CubeSmart Stock Up 2.4 %

CUBE stock opened at $41.72 on Monday. The stock’s 50 day simple moving average is $41.73 and its 200 day simple moving average is $46.44. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $9.51 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88.

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

CubeSmart Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 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.