31,616 Shares in CubeSmart (NYSE:CUBE) Acquired by Natixis

Natixis acquired a new position in CubeSmart (NYSE:CUBE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,616 shares of the real estate investment trust's stock, valued at approximately $1,355,000.

A number of other large investors have also recently made changes to their positions in CUBE. Norges Bank purchased a new stake in CubeSmart during the 4th quarter valued at approximately $408,064,000. Capital World Investors increased its holdings in CubeSmart by 184.5% in the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock valued at $126,161,000 after acquiring an additional 1,909,496 shares during the last quarter. First Trust Advisors LP lifted its stake in CubeSmart by 851.2% in the 4th quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust's stock worth $48,498,000 after purchasing an additional 1,012,816 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of CubeSmart by 380.8% during the 4th quarter. Prudential Financial Inc. now owns 689,886 shares of the real estate investment trust's stock valued at $29,562,000 after purchasing an additional 546,387 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of CubeSmart during the fourth quarter valued at about $21,278,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Mizuho initiated coverage on shares of CubeSmart in a research report on Wednesday, April 9th. They set a "neutral" rating and a $39.00 price objective for the company. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Finally, Barclays reduced their price objective on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $47.31.

CubeSmart Stock Down 0.5 %

Shares of CUBE traded down $0.21 during midday trading on Monday, reaching $39.59. 470,173 shares of the stock were exchanged, compared to its average volume of 1,435,909. The company has a market capitalization of $9.06 billion, a P/E ratio of 22.38, a PEG ratio of 11.58 and a beta of 0.85. 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 has a 52 week low of $34.24 and a 52 week high of $55.14. The company's 50 day moving average is $40.68 and its two-hundred day moving average is $43.65.

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

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's payout ratio is 120.93%.

About CubeSmart

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.