CubeSmart $CUBE Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of CubeSmart (NYSE:CUBE) by 817.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,298 shares of the real estate investment trust’s stock after acquiring an additional 87,589 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CubeSmart were worth $3,936,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of CubeSmart by 1.3% in 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 period. Jones Financial Companies Lllp lifted its holdings in 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 worth $303,000 after buying an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after buying an additional 19,476 shares in the last quarter. Caxton Associates LLP purchased a new position in CubeSmart in the 1st quarter valued at approximately $270,000. Finally, Ballentine Partners LLC acquired a new position in shares of CubeSmart in the second quarter worth $237,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CUBE. Truist Financial reduced their price objective on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Barclays cut their price target on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Tuesday, January 20th. Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday. Finally, Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.40.

CubeSmart Stock Performance

Shares of CUBE opened at $37.70 on Wednesday. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 8.28 and a beta of 1.11. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average price of $36.85 and a 200 day moving average price of $38.95.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The business had revenue of $285.08 million during the quarter, compared to the consensus estimate of $282.57 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, January 2nd. CubeSmart’s payout ratio is presently 135.90%.

CubeSmart Profile

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.