Vanguard Group Inc. Has $1.35 Billion Position in CubeSmart (NYSE:CUBE)

Vanguard Group Inc. raised its stake in CubeSmart (NYSE:CUBE - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,507,111 shares of the real estate investment trust's stock after acquiring an additional 85,609 shares during the period. Vanguard Group Inc. owned 13.93% of CubeSmart worth $1,350,080,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CUBE. Versant Capital Management Inc increased its stake in 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 valued at $29,000 after buying an additional 673 shares during the period. Blue Trust Inc. raised its holdings in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp raised its stake 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 valued at $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. lifted its stake in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 559 shares in the last quarter. Finally, UMB Bank n.a. lifted its position 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 worth $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial upgraded 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. 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 research note on Thursday, March 6th. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada cut their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Finally, Barclays decreased their price target on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $48.00.

CubeSmart Stock Performance

CUBE traded down $0.69 during midday trading on Tuesday, reaching $42.02. The company's stock had a trading volume of 3,929,118 shares, compared to its average volume of 1,401,304. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The stock has a market cap of $9.57 billion, a P/E ratio of 23.74, a PEG ratio of 11.58 and a beta of 0.88. The company has a fifty day simple moving average of $41.92 and a 200 day simple moving average of $45.56. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million during the quarter, compared to analysts' expectations of $267.54 million. Research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio is presently 120.93%.

CubeSmart Company Profile

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.