166,911 Shares in CubeSmart (NYSE:CUBE) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 166,911 shares of the real estate investment trust's stock, valued at approximately $7,152,000. New Age Alpha Advisors LLC owned approximately 0.07% of CubeSmart at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of CubeSmart during the 4th quarter worth approximately $408,064,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CubeSmart by 326.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust's stock worth $90,229,000 after acquiring an additional 1,282,995 shares during the period. Prudential Financial Inc. boosted its position in shares of CubeSmart by 380.8% during the 4th quarter. Prudential Financial Inc. now owns 689,886 shares of the real estate investment trust's stock valued at $29,562,000 after acquiring an additional 546,387 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $21,278,000. Finally, SG Americas Securities LLC lifted its holdings in CubeSmart by 10,685.4% in the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust's stock valued at $20,936,000 after acquiring an additional 484,049 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

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CubeSmart Stock Performance

NYSE CUBE traded down $0.24 on Tuesday, reaching $41.95. The stock had a trading volume of 1,427,257 shares, compared to its average volume of 1,391,176. The business's 50-day moving average price is $41.91 and its 200 day moving average price is $45.65. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The stock has a market cap of $9.56 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. 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 announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. As a group, equities analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.96%. CubeSmart's payout ratio is 120.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group cut shares of CubeSmart from a "buy" rating to a "hold" rating and decreased their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and decreased their target price for the company from $50.00 to $47.00 in a report on Friday, January 17th. Finally, Scotiabank cut shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.00.

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.