CubeSmart (NYSE:CUBE) Stake Increased by Twin Tree Management LP

Twin Tree Management LP grew its stake in CubeSmart (NYSE:CUBE - Free Report) by 29,720.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,630 shares of the real estate investment trust's stock after purchasing an additional 11,591 shares during the period. Twin Tree Management LP's holdings in CubeSmart were worth $526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT increased its stake in shares of CubeSmart by 0.3% in the 4th quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust's stock valued at $3,685,000 after purchasing an additional 254 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in CubeSmart by 0.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 34,500 shares of the real estate investment trust's stock worth $1,599,000 after acquiring an additional 266 shares in the last quarter. Signaturefd LLC grew its position in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 292 shares during the period. HHM Wealth Advisors LLC raised its position in shares of CubeSmart by 53.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 359 shares during the last quarter. Finally, IFG Advisory LLC lifted its stake in CubeSmart by 4.5% in the 4th quarter. IFG Advisory LLC now owns 8,662 shares of the real estate investment trust's stock valued at $402,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Trading Down 1.1 %

CubeSmart stock traded down $0.51 during mid-day trading on Friday, hitting $47.91. The company's stock had a trading volume of 929,512 shares, compared to its average volume of 1,105,268. CubeSmart has a 1 year low of $33.17 and a 1 year high of $49.58. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $10.78 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 8.29 and a beta of 0.80. The stock's fifty day moving average is $44.16 and its two-hundred day moving average is $43.92.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business had revenue of $261.41 million for the quarter, compared to analyst estimates of $253.91 million. During the same period in the previous year, the business posted $0.65 earnings per share. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, July 1st. CubeSmart's dividend payout ratio (DPR) is 113.33%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research reports. Wells Fargo & Company boosted their price objective on CubeSmart from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Friday, April 5th. BMO Capital Markets downgraded CubeSmart from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Raymond James reaffirmed an "outperform" rating and set a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. Barclays initiated coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $48.00 target price for the company. Finally, Evercore ISI boosted their price target on shares of CubeSmart from $44.00 to $45.00 and gave the stock an "in-line" rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.00.

CubeSmart Company 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.