AlphaQuest LLC Makes New Investment in CubeSmart (NYSE:CUBE)

AlphaQuest LLC purchased a new stake in CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,724 shares of the real estate investment trust's stock, valued at approximately $1,616,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 673 shares during the period. Blue Trust Inc. raised its stake 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 purchasing an additional 289 shares during the period. Jones Financial Companies Lllp raised its stake 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 purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 559 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of CubeSmart during the third quarter worth about $33,000. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CUBE has been the topic of several research reports. 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 note on Monday, March 3rd. 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. Wells Fargo & Company cut their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and decreased their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and dropped their target price for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $48.00.

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CubeSmart Stock Performance

CUBE traded down $0.83 during trading hours on Thursday, reaching $40.75. The company's stock had a trading volume of 2,288,214 shares, compared to its average volume of 1,344,067. The company's 50-day moving average is $41.75 and its 200-day moving average is $46.62. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The firm has a market cap of $9.29 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.23. The company 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%. On average, equities analysts forecast 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. 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 5.10%. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.

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.