Strs Ohio Grows Holdings in CubeSmart $CUBE

Strs Ohio raised its holdings in shares of CubeSmart (NYSE:CUBE) by 21.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 574,612 shares of the real estate investment trust’s stock after purchasing an additional 103,402 shares during the quarter. Strs Ohio owned 0.25% of CubeSmart worth $23,364,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its holdings in CubeSmart by 109.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,282 shares of the real estate investment trust’s stock valued at $466,000 after buying an additional 5,899 shares in the last quarter. Inscription Capital LLC increased its position in shares of CubeSmart by 83.1% during the third quarter. Inscription Capital LLC now owns 12,425 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 5,639 shares during the period. Pacific Heights Asset Management LLC purchased a new position in shares of CubeSmart during the third quarter worth approximately $12,198,000. Arkadios Wealth Advisors raised its stake in shares of CubeSmart by 18.3% during the third quarter. Arkadios Wealth Advisors now owns 13,125 shares of the real estate investment trust’s stock valued at $534,000 after acquiring an additional 2,030 shares in the last quarter. Finally, Nordwand Advisors LLC boosted its holdings in shares of CubeSmart by 18.4% in the third quarter. Nordwand Advisors LLC now owns 29,600 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 4,600 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho reduced their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Barclays cut their price target on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Truist Financial lowered their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus target price of $44.40.

CubeSmart Trading Down 1.2%

CUBE opened at $38.21 on Friday. 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 cap of $8.71 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 8.41 and a beta of 1.11. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The stock has a fifty day moving average price of $36.79 and a 200-day moving average price of $39.04.

CubeSmart (NYSE:CUBE) last posted its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The company 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%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, equities research analysts anticipate 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 was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a dividend of $0.53 per share. 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. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s dividend payout ratio is currently 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.