Intech Investment Management LLC bought a new position in CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 17,767 shares of the real estate investment trust's stock, valued at approximately $761,000.
Several other hedge funds have also recently made changes to their positions in CUBE. Versant Capital Management Inc boosted 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 buying an additional 673 shares during the period. Blue Trust Inc. boosted its stake 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 purchasing an additional 289 shares during the period. Jones Financial Companies Lllp grew its holdings in CubeSmart by 134.1% during 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. raised its position in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. lifted its stake in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CUBE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and reduced their price target for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Scotiabank lowered shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Barclays reduced their price target on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and reduced their target price for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Wells Fargo & Company decreased their target price on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $48.00.
Check Out Our Latest Stock Analysis on CUBE
CubeSmart Price Performance
Shares of CubeSmart stock traded down $0.48 during mid-day trading on Tuesday, reaching $41.25. 588,714 shares of the stock traded hands, compared to its average volume of 1,339,640. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average of $41.84 and a 200 day moving average of $46.04. The stock has a market capitalization of $9.40 billion, a PE ratio of 23.30, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14.
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 for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. The company 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, analysts predict that CubeSmart will post 2.64 EPS for the current year.
CubeSmart Dividend Announcement
The firm 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 5.04%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is 120.93%.
About CubeSmart
(
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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