CubeSmart (NYSE:CUBE) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lessened its stake in CubeSmart (NYSE:CUBE - Free Report) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,606 shares of the real estate investment trust's stock after selling 681,989 shares during the quarter. Epoch Investment Partners Inc. owned about 0.08% of CubeSmart worth $7,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in CubeSmart in the fourth quarter valued at about $408,064,000. Prudential Financial Inc. raised its position in shares of CubeSmart by 380.8% in the 4th quarter. Prudential Financial Inc. now owns 689,886 shares of the real estate investment trust's stock valued at $29,562,000 after purchasing an additional 546,387 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CubeSmart during the 4th quarter valued at approximately $21,278,000. SG Americas Securities LLC grew its position in shares of CubeSmart by 10,685.4% during the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust's stock worth $20,936,000 after buying an additional 484,049 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in shares of CubeSmart by 31.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,910,373 shares of the real estate investment trust's stock worth $81,859,000 after buying an additional 462,373 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Stock Performance

CubeSmart stock traded up $0.37 during midday trading on Thursday, reaching $39.94. 1,684,832 shares of the stock traded hands, compared to its average volume of 1,746,396. The firm has a fifty day moving average price of $40.75 and a two-hundred day moving average price of $43.89. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 11.58 and a beta of 0.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data 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 during 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, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.21%. CubeSmart's dividend payout ratio is presently 120.93%.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research analyst reports. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and decreased their price target for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a "sell" rating to a "hold" rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Mizuho assumed coverage on CubeSmart in a report on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price target for the company. Finally, KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.