Gallacher Capital Management LLC Acquires 2,928 Shares of CubeSmart (NYSE:CUBE)

Gallacher Capital Management LLC grew its position in shares of CubeSmart (NYSE:CUBE) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in CubeSmart during the 4th quarter valued at $28,000. Signaturefd LLC raised its stake in CubeSmart by 72.5% in the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 292 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in CubeSmart in the fourth quarter worth about $37,000. HHM Wealth Advisors LLC boosted its position in CubeSmart by 53.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 359 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of CubeSmart by 65.8% during the 3rd quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 573 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.7 %

CUBE stock traded up $0.30 on Friday, reaching $41.75. 2,051,083 shares of the company traded hands, compared to its average volume of 1,313,288. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $9.39 billion, a P/E ratio of 23.19 and a beta of 0.72. The firm has a fifty day simple moving average of $43.46 and a 200-day simple moving average of $42.44.

CubeSmart (NYSE:CUBE) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The business had revenue of $261.41 million during 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. Research analysts anticipate that CubeSmart will post 2.65 earnings per share for the current year.

CubeSmart Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James restated an “outperform” rating and issued a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. 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 target price on the stock. Wells Fargo & Company increased their price target on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Evercore ISI boosted their price objective 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. Finally, Barclays started coverage on shares of CubeSmart in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus target price of $46.33.

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.