CubeSmart (NYSE:CUBE) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC cut its holdings in CubeSmart (NYSE:CUBE) by 19.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,924 shares of the real estate investment trust’s stock after selling 451 shares during the quarter. GAMMA Investing LLC’s holdings in CubeSmart were worth $82,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CubeSmart in the second quarter valued at about $33,000. Wedbush Securities Inc. raised its position in shares of CubeSmart by 8.6% during the 2nd quarter. Wedbush Securities Inc. now owns 7,200 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 571 shares during the last quarter. American Century Companies Inc. lifted its stake in CubeSmart by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock valued at $25,336,000 after buying an additional 77,503 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in CubeSmart by 23.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock valued at $6,921,000 after buying an additional 29,184 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of CubeSmart in the second quarter worth $593,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 2.8 %

Shares of NYSE CUBE opened at $40.17 on Friday. The stock has a market capitalization of $9.08 billion, a PE ratio of 22.70, a P/E/G ratio of 13.00 and a beta of 0.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average of $46.02 and a 200-day moving average of $48.27. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million for the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. CubeSmart’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. On average, analysts anticipate that CubeSmart will post 2.63 EPS for the current year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Thursday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio is 117.51%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CUBE shares. Royal Bank of Canada decreased their price objective on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday. Barclays cut their price objective on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company raised their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Scotiabank cut their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.36.

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.