Fox Run Management L.L.C. Makes New $206,000 Investment in CubeSmart (NYSE:CUBE)

Fox Run Management L.L.C. bought a new stake in CubeSmart (NYSE:CUBE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,798 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other large investors also recently made changes to their positions in CUBE. Geode Capital Management LLC grew its position in CubeSmart by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after purchasing an additional 50,340 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of CubeSmart by 6.0% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock valued at $144,320,000 after acquiring an additional 191,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CubeSmart by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,124,707 shares of the real estate investment trust’s stock valued at $133,894,000 after acquiring an additional 91,822 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of CubeSmart by 2.0% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust’s stock valued at $118,487,000 after acquiring an additional 42,994 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CubeSmart by 326.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after acquiring an additional 1,282,995 shares during the period. 97.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research analyst reports. Scotiabank lowered CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their target price 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 raised shares of 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. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Eight investment 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 stock currently has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Trading Up 1.0 %

NYSE:CUBE opened at $42.03 on Friday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The stock’s fifty day moving average price is $41.88 and its two-hundred day moving average price is $45.83. 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 company has a market cap of $9.58 billion, a P/E ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $267.54 million. As a group, analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is 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.