Mount Yale Investment Advisors LLC Sells 5,153 Shares of CubeSmart (NYSE:CUBE)

Mount Yale Investment Advisors LLC reduced its position in CubeSmart (NYSE:CUBE) by 18.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,811 shares of the real estate investment trust’s stock after selling 5,153 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in CubeSmart were worth $977,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. KBC Group NV increased its position in shares of CubeSmart by 54.6% in the fourth quarter. KBC Group NV now owns 9,068 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 3,201 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the last quarter. Presima Securities ULC raised its position in shares of CubeSmart by 4,092.4% during the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after buying an additional 433,790 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of CubeSmart by 20.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,153 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 543 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of CubeSmart by 35.1% during the 4th quarter. Impact Partnership Wealth LLC now owns 9,427 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 2,448 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. 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, January 10th. Barclays lowered their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Scotiabank reduced their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.73.

CubeSmart Stock Up 2.4 %

NYSE CUBE opened at $42.71 on Tuesday. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The stock has a market capitalization of $9.66 billion, a PE ratio of 24.13, a PEG ratio of 11.20 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The business’s 50-day moving average is $44.48 and its 200 day moving average is $48.04.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same quarter last year, the business posted $0.68 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 4.87%. CubeSmart’s dividend payout ratio is 117.51%.

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.