13,523 Shares in CubeSmart $CUBE Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. bought a new position in CubeSmart (NYSE:CUBE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 13,523 shares of the real estate investment trust’s stock, valued at approximately $507,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Essential Partners LLC raised its holdings 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 acquiring an additional 779 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of CubeSmart by 143.2% during the 2nd 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 during the period. SJS Investment Consulting Inc. purchased a new position in shares of CubeSmart during the 1st quarter worth $42,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CubeSmart by 252.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 935 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of CubeSmart by 38.1% during the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 391 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CUBE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Tuesday, October 13th. Raymond James Financial initiated coverage on CubeSmart in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price for the company. Barclays upgraded CubeSmart from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $46.00 in a research report on Friday, July 10th. Mizuho decreased their price target on CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 2nd. Finally, Wells Fargo & Company raised their price target on CubeSmart from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.73.

CubeSmart Stock Up 0.0%

Shares of NYSE:CUBE opened at $40.15 on Friday. The company has a 50 day moving average of $39.15 and a two-hundred day moving average of $39.96. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 6.79 and a beta of 1.05. CubeSmart has a 52-week low of $35.09 and a 52-week high of $43.26. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34.

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

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

CubeSmart Company 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. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.