31,616 Shares in CubeSmart (NYSE:CUBE) Bought by Natixis

Natixis purchased a new stake in CubeSmart (NYSE:CUBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,616 shares of the real estate investment trust's stock, valued at approximately $1,355,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CUBE. Capital World Investors increased its position in CubeSmart by 184.5% during the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock valued at $126,161,000 after purchasing an additional 1,909,496 shares during the period. First Trust Advisors LP increased its position in shares of CubeSmart by 851.2% during the fourth quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust's stock worth $48,498,000 after buying an additional 1,012,816 shares during the period. GeoWealth Management LLC raised its stake in CubeSmart by 16.2% during the fourth quarter. GeoWealth Management LLC now owns 3,074 shares of the real estate investment trust's stock worth $132,000 after buying an additional 429 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in CubeSmart by 4.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 440,099 shares of the real estate investment trust's stock valued at $18,850,000 after buying an additional 19,849 shares during the period. Finally, Farringdon Capital Ltd. bought a new stake in CubeSmart during the fourth quarter valued at $329,000. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $39.76 on Wednesday. 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 stock has a market cap of $9.10 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The stock's fifty day simple moving average is $40.79 and its two-hundred day simple moving average is $43.92. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. The business had revenue of $231.41 million for the quarter, compared to analysts' expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.23%. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CUBE. Mizuho assumed coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price objective on the stock. Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and lowered their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Scotiabank lowered shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and dropped their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $47.31.

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.

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