GAMMA Investing LLC Purchases New Holdings in CubeSmart (NYSE:CUBE)

GAMMA Investing LLC purchased a new stake in CubeSmart (NYSE:CUBE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 653 shares of the real estate investment trust’s stock, valued at approximately $28,000.

Several other hedge funds have also made changes to their positions in the company. Albion Financial Group UT increased its stake in CubeSmart by 0.3% in the 4th quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust’s stock valued at $3,685,000 after buying an additional 254 shares during the period. Toronto Dominion Bank increased its stake in CubeSmart by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 24,631 shares of the real estate investment trust’s stock valued at $939,000 after buying an additional 281 shares during the period. Signaturefd LLC increased its stake in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares during the period. IFG Advisory LLC increased 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 during the period. Finally, Metis Global Partners LLC increased its stake in CubeSmart by 3.0% in the 3rd quarter. Metis Global Partners LLC now owns 13,179 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 386 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Evercore ISI increased their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Barclays assumed coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target on the stock. Raymond James restated an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a research note on Thursday, March 28th. Finally, 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 target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CubeSmart currently has an average rating of “Hold” and an average price target of $46.33.

CubeSmart Price Performance

NYSE:CUBE opened at $41.84 on Tuesday. The company has a 50-day moving average of $43.44 and a 200-day moving average of $42.48. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 23.24 and a beta of 0.72. CubeSmart has a 52 week low of $33.17 and a 52 week high of $47.81. 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 (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 analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business had revenue of $261.41 million for the quarter, compared to the consensus estimate of $253.91 million. During the same period in the previous year, the business posted $0.65 earnings per share. CubeSmart’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that CubeSmart will post 2.65 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.88%. The ex-dividend date was Thursday, March 28th. CubeSmart’s dividend payout ratio is currently 113.33%.

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.