Capital Fund Management S.A. Acquires New Stake in CubeSmart (NYSE:CUBE)

Capital Fund Management S.A. purchased a new stake in CubeSmart (NYSE:CUBE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 36,941 shares of the real estate investment trust's stock, valued at approximately $1,583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of CubeSmart by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock valued at $2,280,000 after buying an additional 306 shares during the period. Magnetar Financial LLC grew its position in CubeSmart by 2.3% in the fourth quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after acquiring an additional 320 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of CubeSmart by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust's stock worth $299,000 after acquiring an additional 342 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in CubeSmart by 3.6% during the 4th quarter. QRG Capital Management Inc. now owns 9,798 shares of the real estate investment trust's stock worth $420,000 after acquiring an additional 342 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Mizuho initiated coverage on CubeSmart in a report on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price target on the stock. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Finally, Barclays cut their target price on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CubeSmart has a consensus rating of "Hold" and an average price target of $47.31.

CubeSmart Price Performance

Shares of CUBE stock traded down $0.72 during mid-day trading on Monday, reaching $38.86. The company's stock had a trading volume of 63,998 shares, compared to its average volume of 1,433,391. The firm's 50-day moving average is $40.91 and its two-hundred day moving average is $44.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $8.90 billion, a P/E ratio of 22.02, a PEG ratio of 11.58 and a beta of 0.85. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million during the quarter, compared to analysts' expectations of $267.54 million. On average, research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date was Tuesday, April 1st. CubeSmart's payout ratio is 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.