Natixis Advisors LLC Sells 8,216 Shares of CubeSmart (NYSE:CUBE)

Natixis Advisors LLC lowered its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,910 shares of the real estate investment trust's stock after selling 8,216 shares during the quarter. Natixis Advisors LLC's holdings in CubeSmart were worth $2,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. Commonwealth Equity Services LLC raised its holdings in CubeSmart by 0.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 179,393 shares of the real estate investment trust's stock worth $7,687,000 after purchasing an additional 710 shares during the last quarter. Vestcor Inc boosted its stake in CubeSmart by 99.5% in the fourth quarter. Vestcor Inc now owns 87,005 shares of the real estate investment trust's stock valued at $3,728,000 after acquiring an additional 43,383 shares during the last quarter. Swiss National Bank grew its holdings in CubeSmart by 0.8% during the 4th quarter. Swiss National Bank now owns 442,900 shares of the real estate investment trust's stock worth $18,978,000 after acquiring an additional 3,700 shares during the period. Sequoia Financial Advisors LLC grew its holdings in CubeSmart by 7.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 28,920 shares of the real estate investment trust's stock worth $1,239,000 after acquiring an additional 1,949 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CubeSmart by 34.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,881 shares of the real estate investment trust's stock valued at $7,237,000 after acquiring an additional 42,871 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CUBE shares. Royal Bank of Canada reduced their price target on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised shares of 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 research report on Friday, January 10th. Barclays dropped their price objective on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and lowered their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $48.00.

CubeSmart Stock Performance

CUBE stock traded up $0.17 during trading hours on Thursday, reaching $41.64. The stock had a trading volume of 1,082,930 shares, compared to its average volume of 1,341,044. The stock has a market capitalization of $9.49 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The stock has a 50-day simple moving average of $41.87 and a 200 day simple moving average of $45.93. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

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

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Tuesday, April 1st. CubeSmart's payout ratio is presently 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.