Dynamic Technology Lab Private Ltd Makes New $300,000 Investment in CubeSmart (NYSE:CUBE)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,000 shares of the real estate investment trust's stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also modified their holdings of CUBE. Norges Bank bought a new position in CubeSmart in the fourth quarter valued at approximately $408,064,000. Raymond James Financial Inc. bought a new stake in CubeSmart in the 4th quarter valued at $21,278,000. Oak Thistle LLC boosted its stake in CubeSmart by 232.9% in the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust's stock worth $1,383,000 after purchasing an additional 22,582 shares during the period. JPMorgan Chase & Co. increased its holdings in CubeSmart by 8.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,299,460 shares of the real estate investment trust's stock worth $184,232,000 after purchasing an additional 352,754 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in CubeSmart during the 4th quarter worth about $445,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE:CUBE traded up $0.32 on Tuesday, hitting $38.63. The company's stock had a trading volume of 714,830 shares, compared to its average volume of 1,436,792. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The stock has a fifty day moving average of $41.17 and a two-hundred day moving average of $44.42. The firm has a market capitalization of $8.84 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85.

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

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.38%. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.

Wall Street Analyst Weigh In

CUBE has been the subject of several recent research reports. Mizuho started coverage on CubeSmart in a research report on Wednesday, April 9th. They set a "neutral" rating and a $39.00 price objective for the company. Barclays decreased their price target 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. Wells Fargo & Company cut their price objective 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 raised shares of CubeSmart from a "sell" rating to a "hold" rating and decreased their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $47.31.

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.