Barclays PLC Sells 83,041 Shares of CubeSmart (NYSE:CUBE)

Barclays PLC trimmed its position in CubeSmart (NYSE:CUBE - Free Report) by 25.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,508 shares of the real estate investment trust's stock after selling 83,041 shares during the quarter. Barclays PLC owned about 0.11% of CubeSmart worth $10,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 289 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 389 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 673 shares in the last quarter. SRS Capital Advisors Inc. increased its position in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Up 3.5 %

CUBE stock opened at $39.76 on Wednesday. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The firm's 50-day moving average is $40.79 and its 200 day moving average is $43.92. The company has a market capitalization of $9.10 billion, a PE ratio of 22.46, a P/E/G ratio of 11.58 and a beta of 0.85. 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 earnings per share for the quarter, beating 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 firm had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. On average, research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's payout ratio is 120.93%.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of research reports. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and reduced their target price for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Royal Bank of Canada decreased their price objective on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Mizuho assumed coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price objective for the company. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price target on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, CubeSmart currently has an average rating of "Hold" and a consensus target price of $47.31.

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.

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