Trillium Asset Management LLC Sells 4,133 Shares of CubeSmart (NYSE:CUBE)

Trillium Asset Management LLC cut its holdings in shares of CubeSmart (NYSE:CUBE) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,405 shares of the real estate investment trust’s stock after selling 4,133 shares during the quarter. Trillium Asset Management LLC’s holdings in CubeSmart were worth $4,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in 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 acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp raised its stake in 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 in the last quarter. Versant Capital Management Inc grew its stake in CubeSmart by 9,614.3% during the fourth 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 in the last quarter. SRS Capital Advisors Inc. increased its holdings in 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 period. Finally, UMB Bank n.a. raised its position in shares of 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 in 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 $41.97 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The firm has a market cap of $9.56 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The firm’s fifty day moving average is $41.77 and its 200-day moving average is $46.28.

CubeSmart (NYSE:CUBE) last announced its earnings results 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. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. Sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued 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 yield of 4.96%. CubeSmart’s payout ratio is 120.93%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their target price for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

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.