Intech Investment Management LLC Purchases Shares of 17,767 CubeSmart (NYSE:CUBE)

Intech Investment Management LLC acquired a new stake in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,767 shares of the real estate investment trust’s stock, valued at approximately $761,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Howard Capital Management Group LLC bought a new position in CubeSmart in the third quarter worth approximately $212,000. Natixis Advisors LLC lifted its holdings in shares of CubeSmart by 4.6% in the 3rd quarter. Natixis Advisors LLC now owns 71,126 shares of the real estate investment trust’s stock worth $3,829,000 after purchasing an additional 3,131 shares in the last quarter. Pathstone Holdings LLC grew its position in CubeSmart by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 73,279 shares of the real estate investment trust’s stock valued at $3,945,000 after purchasing an additional 1,076 shares during the period. Advisors Asset Management Inc. increased its stake in CubeSmart by 11.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,010 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock worth $163,260,000 after buying an additional 135,211 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 1.1 %

NYSE CUBE opened at $41.62 on Monday. The business’s fifty day moving average is $41.81 and its 200-day moving average is $46.10. 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 stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 23.52, 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.

CubeSmart (NYSE:CUBE) last announced 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 business had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Equities research analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.00%. CubeSmart’s payout ratio is 120.93%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CUBE shares. Royal Bank of Canada decreased their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Barclays decreased their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company dropped their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Finally, KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.