Schroder Investment Management Group lessened its position in CubeSmart (NYSE:CUBE - Free Report) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 705,515 shares of the real estate investment trust's stock after selling 29,410 shares during the period. Schroder Investment Management Group owned approximately 0.31% of CubeSmart worth $29,872,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its position 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 valued at $29,000 after buying an additional 673 shares in the last quarter. Blue Trust Inc. increased its stake in 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in CubeSmart by 134.1% during the 4th 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. SRS Capital Advisors Inc. lifted its stake in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 559 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings 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 buying an additional 351 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.
CubeSmart Stock Performance
NYSE CUBE traded down $1.58 on Friday, hitting $39.51. 2,997,186 shares of the stock were exchanged, compared to its average volume of 1,413,342. The company has a market capitalization of $9.00 billion, a PE ratio of 22.32, a P/E/G ratio of 11.58 and a beta of 0.85. 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 fifty day moving average is $41.90 and its 200 day moving average is $45.28. CubeSmart has a 52 week low of $39.34 and a 52 week high of $55.14.
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%. Research 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 paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a "sell" rating to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. 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 report on Friday, January 17th. Jefferies Financial Group downgraded CubeSmart from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.00.
Read Our Latest Report on CubeSmart
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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