CubeSmart $CUBE Shares Newly Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. purchased a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 598,704 shares of the real estate investment trust’s stock, valued at approximately $22,499,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Essential Partners LLC increased its stake in CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 779 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in CubeSmart by 143.2% during the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 554 shares in the last quarter. SJS Investment Consulting Inc. purchased a new stake in CubeSmart during the first quarter worth $42,000. Caitong International Asset Management Co. Ltd grew its holdings in CubeSmart by 252.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 935 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in CubeSmart by 38.1% in the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 391 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of several research reports. Truist Financial started coverage on CubeSmart in a research note on Friday, October 2nd. They set a “buy” rating and a $41.00 price target for the company. Raymond James Financial began coverage on shares of CubeSmart in a report on Wednesday, July 15th. They set an “outperform” rating and a $44.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research report on Tuesday, August 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Finally, Mizuho lowered their price target on shares of CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average price target of $43.18.

CubeSmart Stock Up 1.1%

Shares of NYSE:CUBE opened at $37.92 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $8.54 billion, a P/E ratio of 26.15, a P/E/G ratio of 6.34 and a beta of 1.05. CubeSmart has a 52-week low of $35.09 and a 52-week high of $43.26. The stock’s fifty day simple moving average is $39.70 and its 200-day simple moving average is $39.80.

CubeSmart (NYSE:CUBE) last announced its earnings results on Friday, July 31st. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The firm had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. During the same period in the previous year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that CubeSmart will post 2.57 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. CubeSmart’s dividend payout ratio is presently 146.21%.

CubeSmart Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. Its properties provide individuals and businesses with space to store household goods, personal belongings, business inventory, records, vehicles and other items.

The company offers a range of unit sizes and storage solutions, generally through traditional drive-up and climate-controlled facilities. Many locations also provide features such as electronic access, online rentals and payments, moving and packing supplies, and vehicle storage.