1834 Investment Advisors Co. Sells 9,936 Shares of CubeSmart (NYSE:CUBE)

1834 Investment Advisors Co. decreased its holdings in CubeSmart (NYSE:CUBE) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 84,354 shares of the real estate investment trust’s stock after selling 9,936 shares during the quarter. 1834 Investment Advisors Co.’s holdings in CubeSmart were worth $3,615,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CUBE. Squarepoint Ops LLC lifted its position in CubeSmart by 4,545.2% during the second quarter. Squarepoint Ops LLC now owns 156,728 shares of the real estate investment trust’s stock valued at $7,079,000 after acquiring an additional 153,354 shares during the last quarter. Algert Global LLC increased its holdings in shares of CubeSmart by 93.1% in the second quarter. Algert Global LLC now owns 46,981 shares of the real estate investment trust’s stock valued at $2,122,000 after purchasing an additional 22,651 shares during the period. Creative Planning increased its holdings in CubeSmart by 9.1% in the 2nd quarter. Creative Planning now owns 16,028 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 1,340 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of CubeSmart by 38.0% during the second quarter. Sunbelt Securities Inc. now owns 2,585 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 712 shares during the last quarter. Finally, Quarry LP raised its stake in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 757 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Price Performance

Shares of CUBE opened at $41.70 on Friday. The company has a market cap of $9.43 billion, a P/E ratio of 23.56, a PEG ratio of 11.20 and a beta of 0.87. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm’s 50 day moving average price is $44.60 and its 200 day moving average price is $48.03.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). The firm had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.08 annualized dividend and a yield of 4.99%. CubeSmart’s payout ratio is presently 117.51%.

Analysts Set New Price Targets

CUBE has been the subject of several analyst reports. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their target price for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada lowered their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Barclays dropped their target price on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.73.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.