Axa S.A. Sells 28,337 Shares of CubeSmart (NYSE:CUBE)

AXA S.A. lessened its position in CubeSmart (NYSE:CUBE - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,633 shares of the real estate investment trust's stock after selling 28,337 shares during the period. AXA S.A. owned approximately 0.07% of CubeSmart worth $6,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of CubeSmart by 19.7% in the fourth quarter. Bank of Montreal Can now owns 70,505 shares of the real estate investment trust's stock valued at $3,021,000 after acquiring an additional 11,608 shares in the last quarter. Norges Bank bought a new position in CubeSmart during the 4th quarter valued at $408,064,000. Raymond James Financial Inc. acquired a new position in shares of CubeSmart during the 4th quarter valued at $21,278,000. Oak Thistle LLC raised its stake in shares of CubeSmart by 232.9% in the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust's stock worth $1,383,000 after buying an additional 22,582 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of CubeSmart by 19.2% in the fourth quarter. LPL Financial LLC now owns 108,610 shares of the real estate investment trust's stock valued at $4,654,000 after buying an additional 17,518 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Trading Up 0.5 %

CUBE traded up $0.22 during trading on Friday, reaching $42.68. 1,284,289 shares of the company's stock were exchanged, compared to its average volume of 1,470,643. The company's fifty day moving average price is $40.58 and its 200-day moving average price is $43.17. The firm has a market capitalization of $9.73 billion, a PE ratio of 24.11, a P/E/G ratio of 11.58 and a beta of 1.00. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's payout ratio is 123.08%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Evercore ISI raised their price objective on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Scotiabank downgraded CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Finally, Barclays lowered their target price on shares of 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $46.85.

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.