CubeSmart $CUBE Holdings Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of CubeSmart (NYSE:CUBE) by 27.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,974 shares of the real estate investment trust’s stock after buying an additional 12,957 shares during the period. Sequoia Financial Advisors LLC’s holdings in CubeSmart were worth $2,439,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Royal Bank of Canada boosted its position in CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after purchasing an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after buying an additional 19,476 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of CubeSmart in the 1st quarter valued at approximately $270,000. Finally, Voya Investment Management LLC increased its holdings in CubeSmart by 4.2% in the first quarter. Voya Investment Management LLC now owns 32,440 shares of the real estate investment trust’s stock worth $1,386,000 after buying an additional 1,311 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE:CUBE opened at $38.88 on Wednesday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The firm’s fifty day simple moving average is $36.68 and its 200 day simple moving average is $39.10. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $8.87 billion, a PE ratio of 24.93, a PEG ratio of 8.63 and a beta of 1.11.

CubeSmart (NYSE:CUBE) last released its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $285.08 million during the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.53 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s payout ratio is 135.90%.

Analyst Ratings Changes

A number of research firms have issued reports on CUBE. Barclays reduced their target price on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. UBS Group reduced their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Truist Financial decreased their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Finally, Evercore ISI reduced their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.40.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.