Nicola Wealth Management LTD. Decreases Position in CubeSmart (NYSE:CUBE)

Nicola Wealth Management LTD. decreased its position in CubeSmart (NYSE:CUBE - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 289,000 shares of the real estate investment trust's stock after selling 65,000 shares during the period. Nicola Wealth Management LTD. owned 0.13% of CubeSmart worth $12,384,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of 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. Blue Trust Inc. raised its position in 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 acquiring an additional 289 shares during the period. Jones Financial Companies Lllp boosted its stake in CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of 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 acquiring an additional 559 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of CubeSmart during the 3rd quarter worth approximately $33,000. Institutional investors own 97.61% of the company's stock.

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CubeSmart Price Performance

NYSE CUBE traded up $0.65 on Friday, hitting $42.91. The stock had a trading volume of 2,826,943 shares, compared to its average volume of 1,333,179. 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 has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The firm has a 50-day moving average of $41.78 and a 200-day moving average of $46.86.

CubeSmart (NYSE:CUBE - Get Free Report) last issued 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 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 the consensus estimate of $267.54 million. Equities analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.85%. CubeSmart's dividend payout ratio is presently 120.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Scotiabank downgraded CubeSmart from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $52.00 to $46.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised CubeSmart from a "sell" rating to a "hold" rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Barclays cut their price target on CubeSmart from $54.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and lowered their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Royal Bank of Canada cut their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $48.08.

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.