Lake Street Private Wealth LLC Boosts Stake in CubeSmart (NYSE:CUBE)

Lake Street Private Wealth LLC boosted its stake in shares of CubeSmart (NYSE:CUBE) by 7.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 51,342 shares of the real estate investment trust’s stock after buying an additional 3,636 shares during the quarter. Lake Street Private Wealth LLC’s holdings in CubeSmart were worth $2,200,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CUBE. UMB Bank n.a. boosted its position in shares of CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 444 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at $33,000. Versant Capital Management Inc lifted its stake in shares of CubeSmart by 9,614.3% during 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 in the last quarter. Brooklyn Investment Group bought a new position in CubeSmart in the 3rd quarter worth $59,000. Finally, Quarry LP increased its stake in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 757 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their target price for the stock from $50.00 to $47.00 in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.73.

CubeSmart Trading Down 0.2 %

CUBE stock opened at $41.41 on Friday. The firm has a fifty day moving average price of $45.30 and a 200 day moving average price of $48.11. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm has a market cap of $9.36 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 11.06 and a beta of 0.87. 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 (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $270.90 million for the quarter, compared to the consensus estimate of $267.49 million. During the same quarter last year, the business earned $0.68 EPS. CubeSmart’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that CubeSmart will post 2.63 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s payout ratio is presently 117.51%.

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.