Duff & Phelps Investment Management Co. Lowers Stock Position in CubeSmart (NYSE:CUBE)

Duff & Phelps Investment Management Co. lowered its holdings in CubeSmart (NYSE:CUBE) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,651,564 shares of the real estate investment trust’s stock after selling 1,655 shares during the period. CubeSmart comprises 1.5% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 16th largest position. Duff & Phelps Investment Management Co. owned approximately 1.18% of CubeSmart worth $122,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CUBE. Albion Financial Group UT increased its stake in shares of CubeSmart by 0.3% during the 4th quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust’s stock worth $3,685,000 after purchasing an additional 254 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of CubeSmart by 1.2% in the third quarter. Toronto Dominion Bank now owns 24,631 shares of the real estate investment trust’s stock worth $939,000 after purchasing an additional 281 shares in the last quarter. Signaturefd LLC raised its position in shares of CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the period. HHM Wealth Advisors LLC boosted its holdings in CubeSmart by 53.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 359 shares during the period. Finally, IFG Advisory LLC grew its stake in CubeSmart by 4.5% in the 4th quarter. IFG Advisory LLC now owns 8,662 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 0.8 %

CUBE stock traded down $0.33 during trading on Tuesday, hitting $40.91. 379,201 shares of the company traded hands, compared to its average volume of 1,460,174. The company has a 50-day moving average of $43.66 and a 200-day moving average of $42.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 1 year low of $33.17 and a 1 year high of $47.81. The firm has a market capitalization of $9.20 billion, a PE ratio of 22.91 and a beta of 0.69.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The firm had revenue of $261.41 million for the quarter, compared to the consensus estimate of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. Analysts predict that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Thursday, March 28th. CubeSmart’s payout ratio is 113.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CUBE shares. Evercore ISI boosted their price objective on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, March 4th. Raymond James reiterated an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price objective for the company. Jefferies Financial Group upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $53.00 in a research note on Tuesday, January 2nd. Finally, Wells Fargo & Company boosted their target price on CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CubeSmart currently has a consensus rating of “Hold” and a consensus target price of $46.33.

About CubeSmart

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.