Sherbrooke Park Advisers LLC Has $323,000 Holdings in CubeSmart (NYSE:CUBE)

Sherbrooke Park Advisers LLC lowered its stake in CubeSmart (NYSE:CUBE) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,531 shares of the real estate investment trust’s stock after selling 1,390 shares during the period. Sherbrooke Park Advisers LLC’s holdings in CubeSmart were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 289 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares during the last quarter. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 351 shares during the last quarter. Finally, Huntington National Bank lifted its position in shares of CubeSmart by 307.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CUBE. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $50.00 in a report on Tuesday, May 13th. Wells Fargo & Company cut their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Mizuho began coverage on CubeSmart in a report on Wednesday, April 9th. They issued a “neutral” rating and a $39.00 price target for the company. Barclays cut their price target on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.93.

CubeSmart Trading Up 2.4%

CUBE stock opened at $43.67 on Monday. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The firm has a market cap of $9.96 billion, a P/E ratio of 24.67, a P/E/G ratio of 11.58 and a beta of 1.00. The business’s 50 day moving average is $40.62 and its 200-day moving average is $42.91. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results 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. The business had revenue of $273.04 million for the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.76%. CubeSmart’s dividend payout ratio (DPR) is presently 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.