Gallacher Capital Management LLC Has $1 Million Position in CubeSmart (NYSE:CUBE)

Gallacher Capital Management LLC boosted its position in shares of CubeSmart (NYSE:CUBE) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,600 shares of the real estate investment trust’s stock after acquiring an additional 2,928 shares during the period. Gallacher Capital Management LLC’s holdings in CubeSmart were worth $1,001,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of CubeSmart by 1,915.7% during the 3rd quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock valued at $116,609,000 after acquiring an additional 2,906,478 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CubeSmart by 54.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,898,429 shares of the real estate investment trust’s stock valued at $148,647,000 after purchasing an additional 1,369,438 shares during the period. Schroder Investment Management Group acquired a new position in shares of CubeSmart in the 3rd quarter worth approximately $33,972,000. Massachusetts Financial Services Co. MA lifted its position in shares of CubeSmart by 92.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,841,190 shares of the real estate investment trust’s stock worth $70,205,000 after buying an additional 886,616 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in CubeSmart by 29,910.3% in the 3rd quarter. Lazard Asset Management LLC now owns 604,408 shares of the real estate investment trust’s stock valued at $23,044,000 after buying an additional 602,394 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Up 0.7 %

Shares of CubeSmart stock traded up $0.30 during trading on Friday, reaching $41.75. The stock had a trading volume of 2,051,083 shares, compared to its average volume of 1,313,288. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 23.19 and a beta of 0.72. The stock has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $42.44. CubeSmart has a 52 week low of $33.17 and a 52 week high of $47.81. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart (NYSE:CUBE) last released its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.22). The company had revenue of $261.41 million for the quarter, compared to the consensus estimate of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts predict that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 28th. CubeSmart’s payout ratio is 113.33%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CubeSmart in a report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective for the company. Evercore ISI boosted their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Barclays began coverage on CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 target price for the company. Wells Fargo & Company upped their price target on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Finally, Raymond James restated an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.33.

CubeSmart Company 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.