SG Americas Securities LLC Has $896,000 Stock Position in CubeSmart $CUBE

SG Americas Securities LLC reduced its holdings in CubeSmart (NYSE:CUBE) by 84.3% in the third quarter, HoldingsChannel reports. The firm owned 22,032 shares of the real estate investment trust’s stock after selling 118,592 shares during the period. SG Americas Securities LLC’s holdings in CubeSmart were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CUBE. True Wealth Design LLC grew its position in shares of CubeSmart by 308.2% during the 2nd 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 during the period. Private Trust Co. NA grew its holdings in CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares during the period. Geneos Wealth Management Inc. grew its holdings in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares during the period. SJS Investment Consulting Inc. bought a new stake in CubeSmart in the third quarter valued at $42,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of CubeSmart by 1,776.1% during the second quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,563 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CUBE. Truist Financial reduced their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Barclays reduced their price objective on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Evercore ISI lowered their target price on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Mizuho reduced their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, UBS Group decreased their price target 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. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.73.

CubeSmart Trading Up 1.3%

Shares of CubeSmart stock opened at $39.64 on Tuesday. The stock has a fifty day simple moving average of $36.65 and a 200 day simple moving average of $39.13. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The company has a market capitalization of $9.04 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 8.63 and a beta of 1.11. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22.

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

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is currently 135.90%.

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.