Mariner LLC Boosts Stake in CubeSmart (NYSE:CUBE)

Mariner LLC lifted its stake in shares of CubeSmart (NYSE:CUBE) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,653 shares of the real estate investment trust’s stock after acquiring an additional 328 shares during the period. Mariner LLC’s holdings in CubeSmart were worth $585,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CubeSmart during the 4th quarter valued at about $408,064,000. Prudential Financial Inc. grew its stake in shares of CubeSmart by 380.8% during the fourth quarter. Prudential Financial Inc. now owns 689,886 shares of the real estate investment trust’s stock valued at $29,562,000 after buying an additional 546,387 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CubeSmart in the fourth quarter worth about $21,278,000. SG Americas Securities LLC lifted its stake in shares of CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after acquiring an additional 484,049 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in CubeSmart by 31.9% during the 4th quarter. Centersquare Investment Management LLC now owns 1,910,373 shares of the real estate investment trust’s stock valued at $81,859,000 after acquiring an additional 462,373 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 3.3 %

CubeSmart stock opened at $40.63 on Thursday. 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 firm’s 50 day moving average price is $40.58 and its 200-day moving average price is $43.53. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The stock has a market cap of $9.30 billion, a P/E ratio of 22.95, a PEG ratio of 11.58 and a beta of 0.85.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. On average, equities analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.12%. CubeSmart’s dividend payout ratio is currently 120.93%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CUBE shares. Scotiabank downgraded shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CubeSmart has a consensus rating of “Hold” and a consensus target price of $47.31.

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.