Davidson Investment Advisors Grows Stake in CubeSmart $CUBE

Davidson Investment Advisors increased its position in CubeSmart (NYSE:CUBE) by 29.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 460,024 shares of the real estate investment trust’s stock after acquiring an additional 104,283 shares during the period. Davidson Investment Advisors’ holdings in CubeSmart were worth $18,705,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in CubeSmart in the second quarter worth about $458,008,000. Allspring Global Investments Holdings LLC lifted its stake in shares of CubeSmart by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,092,379 shares of the real estate investment trust’s stock worth $216,986,000 after purchasing an additional 27,278 shares during the period. Invesco Ltd. boosted its holdings in shares of CubeSmart by 0.8% in the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CubeSmart by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock worth $137,171,000 after buying an additional 44,288 shares during the last quarter. Finally, Millennium Management LLC grew its position in CubeSmart by 129.6% during the first quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust’s stock valued at $96,585,000 after buying an additional 1,276,340 shares during the period. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

CUBE has been the topic of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on CubeSmart and gave the stock a “buy” rating in a research note on Monday, October 13th. Mizuho decreased their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Truist Financial lowered their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Finally, UBS Group reduced their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.20.

CubeSmart Stock Down 1.8%

CUBE opened at $35.40 on Friday. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 7.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s fifty day moving average is $36.79 and its 200 day moving average is $39.55. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The business had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. During the same quarter in the prior year, the business posted $0.67 EPS. CubeSmart’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 6.0%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is presently 135.90%.

CubeSmart Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.