TD Private Client Wealth LLC Reduces Stock Position in CubeSmart (NYSE:CUBE)

TD Private Client Wealth LLC decreased its position in CubeSmart (NYSE:CUBE - Free Report) by 83.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,971 shares of the real estate investment trust's stock after selling 10,281 shares during the period. TD Private Client Wealth LLC's holdings in CubeSmart were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CubeSmart by 326.3% in the third 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 purchasing an additional 1,282,995 shares during the period. Raymond James Financial Inc. acquired a new position in CubeSmart during the fourth quarter worth $21,278,000. SG Americas Securities LLC increased its position in shares of CubeSmart by 10,685.4% during the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust's stock worth $20,936,000 after purchasing an additional 484,049 shares in the last quarter. Presima Securities ULC raised its position in CubeSmart by 4,092.4% in the fourth quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust's stock worth $19,042,000 after acquiring an additional 433,790 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of CubeSmart by 6.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust's stock worth $144,320,000 after purchasing an additional 191,862 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

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CubeSmart Stock Performance

CUBE traded up $0.42 during trading on Friday, hitting $42.03. The company's stock had a trading volume of 1,221,672 shares, compared to its average volume of 1,386,091. The business's 50 day simple moving average is $41.88 and its 200-day simple moving average is $45.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market cap of $9.58 billion, a PE ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88. CubeSmart has a one year low of $39.80 and a one year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. 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 4.95%. CubeSmart's dividend payout ratio is currently 120.93%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Scotiabank lowered shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a "buy" rating to a "hold" rating and dropped their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $48.00.

About CubeSmart

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.