Cullen Frost Bankers Inc. Has $4.33 Million Stock Position in CubeSmart (NYSE:CUBE)

Cullen Frost Bankers Inc. lifted its position in CubeSmart (NYSE:CUBE) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,367 shares of the real estate investment trust’s stock after buying an additional 9,204 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in CubeSmart were worth $4,328,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in CubeSmart by 1,915.7% in the 3rd quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock valued at $116,609,000 after acquiring an additional 2,906,478 shares during the period. Allspring Global Investments Holdings LLC raised its stake in CubeSmart by 54.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,898,429 shares of the real estate investment trust’s stock worth $148,647,000 after purchasing an additional 1,369,438 shares in the last quarter. Schroder Investment Management Group bought a new stake in CubeSmart in the 3rd quarter valued at about $33,972,000. Massachusetts Financial Services Co. MA grew its position in shares of CubeSmart by 92.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,841,190 shares of the real estate investment trust’s stock worth $70,205,000 after purchasing an additional 886,616 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of CubeSmart by 29,910.3% during the third quarter. Lazard Asset Management LLC now owns 604,408 shares of the real estate investment trust’s stock worth $23,044,000 after purchasing an additional 602,394 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Price Performance

CubeSmart stock opened at $41.64 on Thursday. The business’s 50 day simple moving average is $43.40 and its 200 day simple moving average is $42.53. CubeSmart has a 12 month low of $33.17 and a 12 month high of $47.81. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 23.13 and a beta of 0.72. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.22). The business had revenue of $261.41 million for the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. CubeSmart’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts forecast that CubeSmart will post 2.65 EPS for the current year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a yield of 4.90%. CubeSmart’s payout ratio is presently 113.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CUBE shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CubeSmart in a research note on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective on the stock. Raymond James restated an “outperform” rating and set a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. Wells Fargo & Company lifted their price target on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Evercore ISI upped their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. Finally, Barclays began coverage on CubeSmart in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CubeSmart has a consensus rating of “Hold” and an average price target of $46.33.

CubeSmart 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.