OVERSEA CHINESE BANKING Corp Ltd Has $3.94 Million Stock Position in CubeSmart $CUBE

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in CubeSmart (NYSE:CUBE) by 36.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,790 shares of the real estate investment trust’s stock after purchasing an additional 25,628 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CubeSmart were worth $3,935,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CUBE. Aew Capital Management L P grew its holdings in shares of CubeSmart by 164,585.0% in the 2nd quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock valued at $27,996,000 after buying an additional 658,340 shares during the period. Capital Fund Management S.A. acquired a new position in shares of CubeSmart in the 2nd quarter valued at approximately $1,583,000. Davidson Investment Advisors increased its stake in CubeSmart by 29.3% during the 3rd quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock worth $18,705,000 after purchasing an additional 104,283 shares in the last quarter. Signaturefd LLC raised its holdings in CubeSmart by 82.8% during the 2nd quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 761 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in CubeSmart by 127.9% during the 3rd quarter. D.A. Davidson & CO. now owns 30,531 shares of the real estate investment trust’s stock worth $1,241,000 after buying an additional 17,136 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CUBE shares. UBS Group lowered their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Deutsche Bank Aktiengesellschaft set a $45.00 target price on CubeSmart and gave the stock a “buy” rating in a report on Monday, October 13th. Evercore ISI cut their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.73.

CubeSmart Trading Up 2.6%

CubeSmart stock opened at $38.72 on Thursday. The firm has a 50-day moving average of $36.50 and a 200-day moving average of $39.23. CubeSmart has a one year low of $34.24 and a one year high of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 8.22 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 (EPS) for the quarter, hitting the consensus estimate of $0.65. The business had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.CubeSmart’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, equities analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a $0.53 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 135.90%.

CubeSmart Company 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.