Landscape Capital Management L.L.C. trimmed its holdings in CubeSmart (NYSE:CUBE - Free Report) by 69.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,418 shares of the real estate investment trust's stock after selling 23,758 shares during the period. Landscape Capital Management L.L.C.'s holdings in CubeSmart were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc increased its stake in shares of 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 worth $29,000 after acquiring an additional 673 shares during the last quarter. 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 last quarter. Jones Financial Companies Lllp grew its stake 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 buying an additional 389 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after buying an additional 559 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 351 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on CUBE. KeyCorp upgraded 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. Royal Bank of Canada decreased their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and lowered their target price for the stock from $57.00 to $46.00 in a research note on Thursday, January 2nd. Truist Financial raised shares of CubeSmart from a "hold" rating to a "buy" rating and reduced their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Scotiabank cut shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, CubeSmart presently has a consensus rating of "Hold" and a consensus price target of $47.31.
Read Our Latest Analysis on CUBE
CubeSmart Stock Up 1.6 %
Shares of CubeSmart stock traded up $0.59 during trading hours on Friday, reaching $37.64. 2,346,187 shares of the company were exchanged, compared to its average volume of 1,435,954. The firm has a market cap of $8.58 billion, a PE ratio of 21.26, a PEG ratio of 11.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The stock's fifty day moving average is $41.25 and its 200 day moving average is $44.52.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. The company had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.53%. The ex-dividend date is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is presently 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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