CubeSmart (NYSE:CUBE) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 25.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 101,851 shares of the real estate investment trust's stock after selling 34,596 shares during the period. Guggenheim Capital LLC's holdings in CubeSmart were worth $4,364,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Walleye Capital LLC acquired a new position in shares of CubeSmart during the 4th quarter worth approximately $315,000. Mariner LLC increased its stake in shares of CubeSmart by 2.5% in the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock worth $585,000 after acquiring an additional 328 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of CubeSmart by 11.5% in the 4th quarter. Townsquare Capital LLC now owns 6,777 shares of the real estate investment trust's stock worth $290,000 after acquiring an additional 701 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of CubeSmart by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 98,376 shares of the real estate investment trust's stock worth $4,215,000 after acquiring an additional 610 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of CubeSmart in the 4th quarter worth $1,583,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CUBE shares. Jefferies Financial Group downgraded CubeSmart from a "buy" rating to a "hold" rating and cut their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Mizuho started 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. Wells Fargo & Company dropped their price objective on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 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 research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $47.31.

CubeSmart Stock Up 1.5 %

Shares of CubeSmart stock traded up $0.58 during trading hours on Thursday, hitting $40.15. 277,433 shares of the company's stock traded hands, compared to its average volume of 1,433,838. The company has a market cap of $9.19 billion, a PE ratio of 22.69, a PEG ratio of 11.58 and a beta of 0.85. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a 50 day simple moving average of $40.75 and a 200-day simple moving average of $43.89. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

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

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.18%. CubeSmart's payout ratio is 120.93%.

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.