Keybank National Association OH boosted its stake in CubeSmart (NYSE:CUBE - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 627,917 shares of the real estate investment trust's stock after buying an additional 14,580 shares during the period. Keybank National Association OH owned approximately 0.28% of CubeSmart worth $26,906,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Peterson Financial Group Inc. bought a new stake in CubeSmart in the 3rd quarter valued at about $33,000. Blue Trust Inc. boosted its holdings in CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp boosted its holdings in 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 period. Versant Capital Management Inc boosted its holdings in CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 673 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings 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 valued at $32,000 after purchasing an additional 559 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.
CubeSmart Price Performance
NYSE:CUBE traded up $0.65 on Friday, hitting $42.91. The company had a trading volume of 2,826,943 shares, compared to its average volume of 1,331,596. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 11.58 and a beta of 0.88. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $41.78 and a two-hundred day moving average of $46.86. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. On average, research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.85%. The ex-dividend date is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is currently 120.93%.
Wall Street Analyst Weigh In
CUBE has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of CubeSmart from a "buy" rating to a "hold" rating and cut their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and cut their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Royal Bank of Canada cut their price target on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price target for the stock from $46.00 to $45.00 in a report on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CubeSmart presently has an average rating of "Hold" and an average price target of $48.08.
Check Out 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.
Further Reading
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