Syntax Research Inc. lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 2,445.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,412 shares of the real estate investment trust's stock after buying an additional 10,003 shares during the quarter. Syntax Research Inc.'s holdings in CubeSmart were worth $446,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of CUBE. Howard Capital Management Group LLC purchased a new position in CubeSmart during the 3rd quarter valued at about $212,000. Natixis Advisors LLC boosted its position in shares of CubeSmart by 4.6% in the third quarter. Natixis Advisors LLC now owns 71,126 shares of the real estate investment trust's stock valued at $3,829,000 after acquiring an additional 3,131 shares during the period. Pathstone Holdings LLC grew its stake in CubeSmart by 1.5% during the third quarter. Pathstone Holdings LLC now owns 73,279 shares of the real estate investment trust's stock valued at $3,945,000 after acquiring an additional 1,076 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in CubeSmart by 11.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,010 shares of the real estate investment trust's stock worth $270,000 after acquiring an additional 529 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in CubeSmart by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust's stock worth $163,260,000 after purchasing an additional 135,211 shares in the last quarter. 97.61% of the stock is owned by institutional investors.
CubeSmart Trading Up 1.0 %
Shares of NYSE CUBE traded up $0.42 during midday trading on Wednesday, reaching $41.49. The company had a trading volume of 463,842 shares, compared to its average volume of 1,338,433. The stock has a market cap of $9.45 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a one year low of $39.80 and a one year high of $55.14. The firm's fifty day moving average price is $41.85 and its 200-day moving average price is $45.96. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.
CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. On average, equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is 120.93%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on CUBE. Barclays reduced their price target on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada reduced their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. KeyCorp raised 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. Truist Financial raised CubeSmart from a "hold" rating to a "buy" rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Finally, Wells Fargo & Company lowered their target price on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $48.00.
View Our Latest Research Report on CUBE
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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