CubeSmart (NYSE:CUBE) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its holdings in CubeSmart (NYSE:CUBE) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,794 shares of the real estate investment trust’s stock after selling 3,649 shares during the period. Yousif Capital Management LLC’s holdings in CubeSmart were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CUBE. Versant Capital Management Inc grew its holdings in CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares during the period. Blue Trust Inc. lifted its position in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares in the last quarter. UMB Bank n.a. grew its stake in CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of CubeSmart during the third quarter worth about $33,000. Finally, Brooklyn Investment Group purchased a new stake in CubeSmart during the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CUBE stock opened at $42.38 on Friday. CubeSmart has a one year low of $39.80 and a one year high of $55.14. 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 firm’s 50 day moving average price is $43.13 and its 200-day moving average price is $47.65. The firm has a market cap of $9.58 billion, a P/E ratio of 23.94, a P/E/G ratio of 11.48 and a beta of 0.87.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.52 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is currently 117.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CUBE shares. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price target for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Scotiabank dropped their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Barclays lowered their price objective on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada cut their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average target price of $49.73.

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.