Proficio Capital Partners LLC Makes New $619,000 Investment in CubeSmart (NYSE:CUBE)

Proficio Capital Partners 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 14,449 shares of the real estate investment trust's stock, valued at approximately $619,000.

Several other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc raised its position in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart in the third quarter valued at approximately $33,000. UMB Bank n.a. boosted its stake in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 351 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of CubeSmart in the third quarter worth approximately $59,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several recent research reports. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Barclays decreased their price target on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and decreased their target price for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Scotiabank lowered CubeSmart from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $48.00.

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CubeSmart Trading Down 2.0 %

Shares of CUBE traded down $0.83 during trading on Thursday, reaching $40.75. 1,851,099 shares of the company traded hands, compared to its average volume of 1,343,977. The stock has a 50-day simple moving average of $41.75 and a 200-day simple moving average of $46.62. The stock has a market cap of $9.29 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

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

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is currently 120.93%.

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.