American Century Companies Inc. Reduces Stock Holdings in CubeSmart (NYSE:CUBE)

American Century Companies Inc. reduced its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 552,126 shares of the real estate investment trust's stock after selling 201,875 shares during the period. American Century Companies Inc. owned 0.24% of CubeSmart worth $23,659,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of CubeSmart by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust's stock worth $247,295,000 after buying an additional 50,340 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in CubeSmart by 6.0% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust's stock worth $144,320,000 after acquiring an additional 191,862 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CubeSmart by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,124,707 shares of the real estate investment trust's stock worth $133,894,000 after acquiring an additional 91,822 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in CubeSmart by 2.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust's stock valued at $118,487,000 after purchasing an additional 42,994 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CubeSmart by 326.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust's stock valued at $90,229,000 after purchasing an additional 1,282,995 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on CUBE shares. Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and reduced their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, Barclays dropped their price objective on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.00.

CubeSmart Stock Down 1.5 %

Shares of CubeSmart stock traded down $0.63 on Thursday, reaching $41.36. 204,191 shares of the company were exchanged, compared to its average volume of 1,398,480. The stock's 50 day moving average price is $41.95 and its 200-day moving average price is $45.54. The company has a market cap of $9.43 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

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

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is 120.93%.

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.