US Bancorp DE lessened its holdings in CubeSmart (NYSE:CUBE – Free Report) by 7.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,634 shares of the real estate investment trust’s stock after selling 1,998 shares during the quarter. US Bancorp DE’s holdings in CubeSmart were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of CUBE. Victory Capital Management Inc. grew its position in CubeSmart by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 39,608 shares of the real estate investment trust’s stock valued at $1,510,000 after acquiring an additional 831 shares during the last quarter. abrdn plc grew its position in shares of CubeSmart by 2.4% during the 3rd quarter. abrdn plc now owns 47,165 shares of the real estate investment trust’s stock worth $1,798,000 after buying an additional 1,124 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC grew its position in shares of CubeSmart by 0.4% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 153,850 shares of the real estate investment trust’s stock worth $5,866,000 after buying an additional 670 shares in the last quarter. Exencial Wealth Advisors LLC bought a new position in shares of CubeSmart during the 3rd quarter worth $305,000. Finally, Amalgamated Bank grew its position in shares of CubeSmart by 0.6% during the 3rd quarter. Amalgamated Bank now owns 147,317 shares of the real estate investment trust’s stock worth $5,617,000 after buying an additional 833 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.
Analyst Upgrades and Downgrades
CUBE has been the topic of a number of recent research reports. Raymond James reissued an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a research report on Thursday, March 28th. Barclays initiated coverage on CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target on the stock. Evercore ISI raised their price objective on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, March 4th. Wells Fargo & Company raised their price objective on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $50.00 to $47.00 in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.17.
View Our Latest Research Report on CubeSmart
CubeSmart Trading Down 0.4 %
CubeSmart stock opened at $42.16 on Tuesday. The stock has a 50-day moving average of $42.86 and a two-hundred day moving average of $43.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a one year low of $33.17 and a one year high of $47.81. The stock has a market cap of $9.48 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 5.15 and a beta of 0.77.
CubeSmart (NYSE:CUBE – Get Free Report) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. The business had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. During the same quarter last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.
CubeSmart Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, June 28th. CubeSmart’s payout ratio is 113.33%.
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.
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