American Assets Capital Advisers LLC Decreases Stock Position in CubeSmart (NYSE:CUBE)

American Assets Capital Advisers LLC reduced its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,766 shares of the real estate investment trust's stock after selling 9,725 shares during the quarter. CubeSmart accounts for approximately 1.0% of American Assets Capital Advisers LLC's portfolio, making the stock its 25th largest holding. American Assets Capital Advisers LLC's holdings in CubeSmart were worth $2,904,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CUBE. Envestnet Portfolio Solutions Inc. increased its stake in CubeSmart by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,861 shares of the real estate investment trust's stock worth $937,000 after purchasing an additional 601 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of CubeSmart by 0.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 179,393 shares of the real estate investment trust's stock worth $7,687,000 after buying an additional 710 shares during the period. Vestcor Inc raised its holdings in CubeSmart by 99.5% during the 4th quarter. Vestcor Inc now owns 87,005 shares of the real estate investment trust's stock valued at $3,728,000 after buying an additional 43,383 shares during the last quarter. Swiss National Bank boosted its position in CubeSmart by 0.8% during the 4th quarter. Swiss National Bank now owns 442,900 shares of the real estate investment trust's stock valued at $18,978,000 after buying an additional 3,700 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in CubeSmart by 7.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 28,920 shares of the real estate investment trust's stock worth $1,239,000 after acquiring an additional 1,949 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Barclays dropped 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. Jefferies Financial Group cut CubeSmart from a "buy" rating to a "hold" rating and reduced their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their target price on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.00.

CubeSmart Stock Up 0.1 %

Shares of CubeSmart stock traded up $0.05 during trading on Thursday, hitting $42.04. The company's stock had a trading volume of 1,491,727 shares, compared to its average volume of 1,334,267. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a market capitalization of $9.58 billion, a PE ratio of 23.75, a P/E/G ratio of 11.58 and a beta of 0.88. The company has a fifty day simple moving average of $41.77 and a two-hundred day simple moving average of $46.28. 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 released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million during 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 earnings per share for the current year.

CubeSmart Announces Dividend

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