Proficio Capital Partners LLC bought a new position in CubeSmart (NYSE:CUBE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 14,449 shares of the real estate investment trust's stock, valued at approximately $619,000.
A number of other institutional investors have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust's stock worth $90,229,000 after buying an additional 1,282,995 shares in the last quarter. SG Americas Securities LLC lifted its stake in CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust's stock worth $20,936,000 after purchasing an additional 484,049 shares in the last quarter. Presima Securities ULC boosted its holdings in shares of CubeSmart by 4,092.4% during the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust's stock valued at $19,042,000 after purchasing an additional 433,790 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in shares of CubeSmart by 6.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,368,022 shares of the real estate investment trust's stock valued at $144,320,000 after purchasing an additional 191,862 shares in the last quarter. Finally, Lightrock Netherlands B.V. bought a new stake in shares of CubeSmart in the fourth quarter worth about $6,003,000. Hedge funds and other institutional investors own 97.61% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Truist Financial raised CubeSmart from a "hold" rating to a "buy" rating and dropped their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, KeyCorp upgraded 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. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $48.00.
Check Out Our Latest Analysis on CubeSmart
CubeSmart Stock Up 1.0 %
CubeSmart stock traded up $0.40 during trading hours on Wednesday, reaching $41.47. The stock had a trading volume of 1,286,839 shares, compared to its average volume of 1,342,210. CubeSmart has a 52 week low of $39.80 and a 52 week high of $55.14. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 11.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The business's 50 day moving average price is $41.87 and its 200-day moving average price is $45.93.
CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million during the quarter, compared to analysts' expectations of $267.54 million. Sell-side analysts anticipate that CubeSmart will post 2.64 EPS 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 issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio is presently 120.93%.
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.
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