CubeSmart $CUBE Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in CubeSmart (NYSE:CUBE) by 155.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 90,791 shares of the real estate investment trust’s stock after acquiring an additional 55,247 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CubeSmart were worth $3,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings in CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 524 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 568 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of CubeSmart by 737.2% during the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 1,349 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of CubeSmart by 1,776.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of CubeSmart by 82.8% during the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 761 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CUBE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Evercore ISI reduced their price objective on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of CubeSmart and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Mizuho decreased their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.25.

CubeSmart Stock Up 1.7%

CubeSmart stock opened at $35.95 on Thursday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $8.20 billion, a PE ratio of 23.05, a P/E/G ratio of 7.84 and a beta of 1.11. The firm’s 50 day moving average price is $37.65 and its two-hundred day moving average price is $39.89.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $282.57 million. During the same period in the previous year, the company posted $0.67 EPS. CubeSmart’s revenue was up 5.2% on a year-over-year basis. On average, 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 will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is currently 133.33%.

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.