Prudential PLC lifted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,737 shares of the real estate investment trust's stock after acquiring an additional 10,954 shares during the period. Prudential PLC's holdings in CubeSmart were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CUBE. Versant Capital Management Inc grew its stake in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the period. Blue Trust Inc. grew its position in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after buying an additional 289 shares during the period. Jones Financial Companies Lllp increased its stake in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 559 shares during the period. Finally, UMB Bank n.a. boosted 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 worth $40,000 after acquiring an additional 351 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
CubeSmart Stock Up 1.6 %
NYSE:CUBE traded up $0.59 on Friday, hitting $37.64. The stock had a trading volume of 2,346,187 shares, compared to its average volume of 1,435,954. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The firm's fifty day simple moving average is $41.25 and its two-hundred day simple moving average is $44.52. The stock has a market cap of $8.58 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.
CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. Analysts predict that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Tuesday, April 1st. CubeSmart's payout ratio is 120.93%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and dropped their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. Mizuho initiated coverage on CubeSmart in a report on Wednesday. They issued a "neutral" rating and a $39.00 price target on the stock. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Wells Fargo & Company lowered their target price on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Finally, Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and reduced their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $47.31.
View Our Latest Report on CubeSmart
CubeSmart Profile
(
Free Report)
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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