Geode Capital Management LLC cut its holdings in CubeSmart (NYSE:CUBE - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,568,672 shares of the real estate investment trust's stock after selling 24,338 shares during the period. Geode Capital Management LLC owned about 2.02% of CubeSmart worth $195,820,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of CUBE. Versant Capital Management Inc raised its stake in CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 673 shares in the last quarter. Blue Trust Inc. increased its position in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 389 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 559 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of CubeSmart by 59.4% in the 4th 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 during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.
CubeSmart Price Performance
Shares of CUBE traded up $0.59 during mid-day trading on Friday, hitting $37.64. The company's stock had a trading volume of 2,346,187 shares, compared to its average volume of 1,433,982. 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 has a 1-year low of $34.24 and a 1-year high of $55.14. The firm has a market capitalization of $8.58 billion, a P/E ratio of 21.26, a P/E/G ratio of 11.58 and a beta of 0.85. The firm has a 50-day simple moving average of $41.25 and a 200 day simple moving average of $44.58.
CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million during the quarter, compared to analysts' expectations 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 EPS for the current fiscal 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 given a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.53%. CubeSmart's payout ratio is currently 120.93%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on CUBE shares. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. Barclays reduced their target price on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Finally, Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of "Hold" and an average price target of $47.31.
Check Out Our Latest Analysis on CUBE
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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