Oak Thistle LLC Buys 22,582 Shares of CubeSmart (NYSE:CUBE)

Oak Thistle LLC grew its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 232.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,280 shares of the real estate investment trust's stock after acquiring an additional 22,582 shares during the quarter. Oak Thistle LLC's holdings in CubeSmart were worth $1,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its position in CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 444 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart during the 3rd quarter valued at about $33,000. Versant Capital Management Inc lifted its position 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 buying an additional 673 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in CubeSmart in the 2nd quarter worth approximately $33,000. Finally, Brooklyn Investment Group bought a new position in CubeSmart during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Trading Down 0.3 %

NYSE CUBE traded down $0.14 during trading on Wednesday, hitting $40.51. The company had a trading volume of 2,230,545 shares, compared to its average volume of 1,479,083. CubeSmart has a one year low of $39.80 and a one year high of $55.14. 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 company's fifty day moving average is $45.70 and its 200-day moving average is $48.23. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 13.00 and a beta of 0.87.

CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $270.90 million for the quarter, compared to analysts' expectations of $267.49 million. During the same quarter last year, the company posted $0.68 EPS. The firm's revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts predict that CubeSmart will post 2.63 earnings per share for the current year.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.13%. This is a positive change from CubeSmart's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 2nd. CubeSmart's dividend payout ratio (DPR) is presently 117.51%.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Scotiabank reduced their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research note on Monday, November 25th. Jefferies Financial Group lowered CubeSmart from a "buy" rating to a "hold" rating and lowered their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Barclays reduced their price target on CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Royal Bank of Canada lowered their price objective on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.00.

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.