Price T Rowe Associates Inc. MD lowered its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,291,797 shares of the real estate investment trust's stock after selling 522,592 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.78% of CubeSmart worth $269,606,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CUBE. 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 lifted its holdings in CubeSmart by 134.1% during the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after buying an additional 389 shares during the period. Versant Capital Management Inc lifted its stake in shares of CubeSmart by 9,614.3% during the 4th 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 last quarter. SRS Capital Advisors Inc. boosted its position in CubeSmart by 310.6% during the fourth 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 in the last quarter. Finally, UMB Bank n.a. grew 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 valued at $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.
CubeSmart Stock Performance
Shares of NYSE:CUBE traded down $0.27 during trading on Tuesday, hitting $39.35. 2,590,660 shares of the stock traded hands, compared to its average volume of 1,448,148. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. 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 company has a fifty day moving average price of $40.65 and a two-hundred day moving average price of $43.57. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 11.58 and a beta of 0.85.
CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts predict that CubeSmart will post 2.64 EPS for the current year.
CubeSmart Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.52 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.29%. CubeSmart's dividend payout ratio (DPR) is currently 120.93%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on CUBE shares. KeyCorp raised shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Jefferies Financial Group downgraded CubeSmart from a "buy" rating to a "hold" rating and lowered their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and cut their price objective for the company from $50.00 to $47.00 in a report on Friday, January 17th. Wells Fargo & Company lowered their target price 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. Finally, Mizuho started coverage on shares of CubeSmart in a research note on Wednesday, April 9th. They set a "neutral" rating and a $39.00 price target on the stock. 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $47.31.
Check Out Our Latest Stock Report on CUBE
CubeSmart Company 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.
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