Pacific Heights Asset Management LLC Acquires New Holdings in CubeSmart $CUBE

Pacific Heights Asset Management LLC bought a new stake in CubeSmart (NYSE:CUBE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 300,000 shares of the real estate investment trust’s stock, valued at approximately $12,198,000.

Several other large investors have also recently bought and sold shares of CUBE. True Wealth Design LLC raised its position in shares of CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 524 shares in the last quarter. Private Trust Co. NA increased its stake in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares during the period. Geneos Wealth Management Inc. raised its holdings in CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in CubeSmart during the third quarter worth approximately $42,000. Finally, IFP Advisors Inc lifted its position in CubeSmart by 737.2% in the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 1,349 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Up 1.3%

Shares of CubeSmart stock opened at $39.64 on Tuesday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The firm has a market capitalization of $9.04 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 8.63 and a beta of 1.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $36.65 and its 200-day moving average is $39.13.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.CubeSmart’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Equities analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s payout ratio is 135.90%.

Analysts Set New Price Targets

CUBE has been the topic of several research analyst reports. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays dropped their price target on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 13th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Finally, UBS Group lowered their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.73.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.