American Assets Capital Advisers LLC Sells 9,725 Shares of CubeSmart (NYSE:CUBE)

American Assets Capital Advisers LLC cut its holdings in shares of CubeSmart (NYSE:CUBE) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,766 shares of the real estate investment trust’s stock after selling 9,725 shares during the quarter. CubeSmart makes up about 1.0% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 25th biggest position. American Assets Capital Advisers LLC’s holdings in CubeSmart were worth $2,904,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CUBE. Peterson Financial Group Inc. purchased a new position in shares of CubeSmart in the third quarter worth $33,000. Blue Trust Inc. increased its holdings in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of CubeSmart by 9,614.3% during the 4th 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 last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 559 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CUBE. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and decreased their target price for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Royal Bank of Canada lowered their target price on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Barclays reduced their price target on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.00.

CubeSmart Stock Performance

Shares of NYSE:CUBE opened at $41.72 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The firm’s 50-day moving average is $41.73 and its 200 day moving average is $46.48.

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

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio is currently 120.93%.

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.