O Shaughnessy Asset Management LLC Trims Stock Holdings in CubeSmart (NYSE:CUBE)

O Shaughnessy Asset Management LLC cut its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 25.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,087 shares of the real estate investment trust's stock after selling 7,453 shares during the period. O Shaughnessy Asset Management LLC's holdings in CubeSmart were worth $946,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in CubeSmart by 74.9% during the fourth 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 in the last quarter. Jones Financial Companies Lllp grew its position 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 acquiring an additional 389 shares in the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 673 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of CubeSmart by 310.6% during the fourth 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 in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 351 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

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CubeSmart Trading Up 1.6 %

Shares of CUBE traded up $0.59 during mid-day trading on Friday, reaching $37.64. The company had a trading volume of 2,346,187 shares, compared to its average volume of 1,433,982. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. 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 fifty day simple moving average of $41.25 and a 200-day simple moving average of $44.58. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.45 by $0.23. The company had revenue of $231.41 million during 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, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.53%. CubeSmart's dividend payout ratio (DPR) is 120.93%.

Analyst Upgrades and Downgrades

CUBE has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Scotiabank lowered shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Truist Financial upgraded CubeSmart from a "hold" rating to a "buy" rating and cut their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Barclays lowered their price objective on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $47.31.

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.