Cbre Investment Management Listed Real Assets LLC Grows Stock Position in CubeSmart (NYSE:CUBE)

Cbre Investment Management Listed Real Assets LLC increased its position in CubeSmart (NYSE:CUBE - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,368,022 shares of the real estate investment trust's stock after acquiring an additional 191,862 shares during the quarter. CubeSmart comprises about 2.6% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 7th biggest holding. Cbre Investment Management Listed Real Assets LLC owned 1.49% of CubeSmart worth $144,320,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CUBE. Versant Capital Management Inc increased its stake in CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the period. Blue Trust Inc. grew its holdings in shares of CubeSmart by 74.9% in the fourth 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 last quarter. Jones Financial Companies Lllp increased its stake in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after buying an additional 389 shares during the period. SRS Capital Advisors Inc. raised its holdings in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 559 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in CubeSmart during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have issued reports on CUBE. Scotiabank cut shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $52.00 to $46.00 in a research report on Wednesday. Jefferies Financial Group cut CubeSmart from a "buy" rating to a "hold" rating and cut their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Truist Financial raised CubeSmart from a "hold" rating to a "buy" rating and lowered their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Barclays cut their target price on shares of CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.08.

CubeSmart Stock Performance

NYSE:CUBE traded up $0.65 during mid-day trading on Friday, reaching $42.91. The company's stock had a trading volume of 2,826,943 shares, compared to its average volume of 1,331,596. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.78 billion, a P/E ratio of 24.24, a PEG ratio of 11.58 and a beta of 0.88. The firm's fifty day moving average price is $41.78 and its two-hundred day moving average price is $46.86. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14.

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

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 4.85%. The ex-dividend date is Tuesday, April 1st. CubeSmart's payout ratio is 120.93%.

About CubeSmart

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.