Barclays PLC Sells 83,041 Shares of CubeSmart (NYSE:CUBE)

Barclays PLC trimmed its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,508 shares of the real estate investment trust's stock after selling 83,041 shares during the period. Barclays PLC owned about 0.11% of CubeSmart worth $10,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 worth $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp increased its stake in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 389 shares during the last quarter. Versant Capital Management Inc increased its stake in CubeSmart by 9,614.3% in 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 last quarter. SRS Capital Advisors Inc. increased 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 valued at $32,000 after buying an additional 559 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Performance

Shares of NYSE CUBE traded down $0.17 during trading hours on Monday, reaching $39.63. 2,468,932 shares of the stock were exchanged, compared to its average volume of 1,443,580. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 11.58 and a beta of 0.85. 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 has a 52 week low of $34.24 and a 52 week high of $55.14. The stock's fifty day simple moving average is $40.65 and its 200 day simple moving average is $43.57.

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

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.25%. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho assumed coverage on shares of CubeSmart in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price target on the stock. Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and lowered their price target for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a "sell" rating to a "hold" rating and lowered their price target for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company lowered their price objective 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. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CubeSmart presently has an average rating of "Hold" and a consensus target price of $47.31.

CubeSmart 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.