Exencial Wealth Advisors LLC Reduces Stock Holdings in CubeSmart (NYSE:CUBE) (2024)

Posted by Defense World Staff on Jun 9th, 2024

Exencial Wealth Advisors LLC lowered its position in CubeSmart (NYSE:CUBE – Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,983 shares of the real estate investment trust’s stock after selling 1,017 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in CubeSmart were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cibc World Markets Corp purchased a new position in CubeSmart during the fourth quarter worth about $3,475,000. Public Employees Retirement Association of Colorado boosted its stake in CubeSmart by 4,265.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 649,106 shares of the real estate investment trust’s stock worth $30,086,000 after buying an additional 634,237 shares during the period. Tower Research Capital LLC TRC boosted its stake in CubeSmart by 126.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 37,736 shares of the real estate investment trust’s stock worth $1,749,000 after buying an additional 21,066 shares during the period. Centersquare Investment Management LLC boosted its stake in CubeSmart by 824.1% during the fourth quarter. Centersquare Investment Management LLC now owns 1,127,979 shares of the real estate investment trust’s stock worth $52,282,000 after buying an additional 1,005,922 shares during the period. Finally, KBC Group NV purchased a new position in CubeSmart during the fourth quarter worth about $190,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

CUBE has been the subject of several research analyst reports. BMO Capital Markets lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $50.00 to $47.00 in a research note on Wednesday, May 29th. Raymond James reaffirmed an “outperform” rating and set a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. Evercore ISI increased their target price on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Barclays initiated coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and a consensus price target of $46.17.

Read Our Latest Stock Analysis on CubeSmart

CubeSmart Stock Down 1.6 %

Shares of NYSE:CUBE opened at $42.50 on Friday. The firm’s 50 day moving average price is $42.71 and its 200 day moving average price is $43.48. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 5.17 and a beta of 0.77. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $47.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE – Get Free Report) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.22). The firm had revenue of $261.41 million during the quarter, compared to analyst estimates of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. As a group, equities research analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.04 annualized dividend and a yield of 4.80%. CubeSmart’s dividend payout ratio (DPR) is 113.33%.

About CubeSmart

(Free Report)

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.