CubeSmart (NYSE:CUBE) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,124,707 shares of the real estate investment trust's stock after buying an additional 91,822 shares during the period. Charles Schwab Investment Management Inc. owned 1.38% of CubeSmart worth $133,894,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in CubeSmart by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust's stock valued at $247,295,000 after buying an additional 50,340 shares during the period. Duff & Phelps Investment Management Co. boosted its position in shares of 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 worth $118,487,000 after acquiring an additional 42,994 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CubeSmart by 326.3% in the third 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 period. Wellington Management Group LLP increased its position in CubeSmart by 13.9% during the third quarter. Wellington Management Group LLP now owns 929,707 shares of the real estate investment trust's stock worth $50,046,000 after purchasing an additional 113,422 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in CubeSmart by 3.3% during the fourth quarter. Boston Trust Walden Corp now owns 906,551 shares of the real estate investment trust's stock worth $38,846,000 after purchasing an additional 29,280 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CUBE shares. KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Barclays reduced their price objective on CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Jefferies Financial Group cut shares of CubeSmart from a "buy" rating to a "hold" rating and reduced their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and decreased their price objective for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $48.08.

CubeSmart Stock Down 1.4 %

CubeSmart stock traded down $0.61 during midday trading on Tuesday, hitting $42.16. 2,148,226 shares of the stock were exchanged, compared to its average volume of 1,337,930. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a 50 day moving average price of $41.79 and a two-hundred day moving average price of $46.73. The firm has a market cap of $9.61 billion, a P/E ratio of 23.82, a P/E/G 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.

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

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Tuesday, April 1st. CubeSmart's payout ratio is currently 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.