CubeSmart (NYSE:CUBE) Shares Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP increased its position in CubeSmart (NYSE:CUBE) by 63.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,609 shares of the real estate investment trust’s stock after acquiring an additional 4,499 shares during the period. Brevan Howard Capital Management LP’s holdings in CubeSmart were worth $497,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp increased its position in CubeSmart by 134.1% in the 4th 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 period. SRS Capital Advisors Inc. raised its stake in 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 in the last quarter. UMB Bank n.a. boosted its position in CubeSmart by 59.4% during the 4th 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 period. Finally, Huntington National Bank grew its stake in shares of CubeSmart by 307.0% in the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 915 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CUBE shares. Barclays reduced their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. KeyCorp upgraded shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Mizuho began coverage on CubeSmart in a report on Wednesday, April 9th. They set a “neutral” rating and a $39.00 target price on the stock. Wells Fargo & Company decreased their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped 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. Nine 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.com, the company presently has an average rating of “Hold” and a consensus target price of $46.85.

CubeSmart Stock Performance

Shares of CUBE opened at $42.68 on Friday. The company has a 50-day moving average of $40.58 and a two-hundred day moving average of $43.17. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 11.58 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a one year low of $34.24 and a one year high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. During the same quarter last year, the business posted $0.64 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.87%. The ex-dividend date was Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 123.08%.

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.