Total Wealth Planning & Management Inc. Buys Shares of 5,349 CubeSmart (NYSE:CUBE)

Total Wealth Planning & Management Inc. purchased a new position in CubeSmart (NYSE:CUBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,349 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings 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 worth $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp increased 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 purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares during the last quarter. Huntington National Bank increased its stake in CubeSmart by 307.0% in the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 915 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in CubeSmart in the fourth quarter valued at $58,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Trading Up 1.3%

CUBE opened at $41.85 on Wednesday. The firm has a market capitalization of $9.54 billion, a P/E ratio of 23.64, a P/E/G ratio of 11.58 and a beta of 1.00. The firm’s 50 day moving average is $40.65 and its 200-day moving average is $42.65. CubeSmart has a 52-week low of $34.24 and a 52-week 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) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. Analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. CubeSmart’s dividend payout ratio is currently 123.08%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Mizuho assumed coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 target price for the company. KeyCorp upgraded 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. Scotiabank upped their price target on CubeSmart from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Finally, Barclays decreased their target price on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Friday, May 16th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average target price of $47.07.

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.