Virtu Financial LLC Has $213,000 Stock Holdings in CubeSmart (NYSE:CUBE)

Virtu Financial LLC lowered its position in shares of CubeSmart (NYSE:CUBE) by 52.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,967 shares of the real estate investment trust’s stock after selling 5,556 shares during the quarter. Virtu Financial LLC’s holdings in CubeSmart were worth $213,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CubeSmart by 326.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock valued at $90,229,000 after acquiring an additional 1,282,995 shares during the period. Raymond James Financial Inc. bought a new stake in CubeSmart in the fourth quarter valued at approximately $21,278,000. SG Americas Securities LLC raised its holdings in CubeSmart by 10,685.4% in the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock worth $20,936,000 after purchasing an additional 484,049 shares during the period. Presima Securities ULC boosted its position in shares of CubeSmart by 4,092.4% during the fourth quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock worth $19,042,000 after purchasing an additional 433,790 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of CubeSmart by 6.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust’s stock valued at $144,320,000 after buying an additional 191,862 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CUBE. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Jefferies Financial Group lowered shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Scotiabank cut CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Finally, Barclays dropped their target price on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.00.

CubeSmart Price Performance

CUBE stock opened at $42.03 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The business has a 50-day simple moving average of $41.88 and a two-hundred day simple moving average of $45.83. The company has a market capitalization of $9.58 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Research analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

CubeSmart Profile

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.