Epoch Investment Partners Inc. Has $7.91 Million Position in CubeSmart (NYSE:CUBE)

Epoch Investment Partners Inc. trimmed its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 78.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,606 shares of the real estate investment trust's stock after selling 681,989 shares during the quarter. Epoch Investment Partners Inc. owned about 0.08% of CubeSmart worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CUBE. GeoWealth Management LLC raised its holdings in shares of CubeSmart by 16.2% in the 4th quarter. GeoWealth Management LLC now owns 3,074 shares of the real estate investment trust's stock worth $132,000 after purchasing an additional 429 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of CubeSmart by 4.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 440,099 shares of the real estate investment trust's stock worth $18,850,000 after acquiring an additional 19,849 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in shares of CubeSmart during the fourth quarter worth $329,000. Walleye Capital LLC purchased a new stake in shares of CubeSmart during the fourth quarter valued at $315,000. Finally, Mariner LLC boosted its position in shares of CubeSmart by 2.5% in the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 328 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and reduced their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Barclays reduced their target price on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Truist Financial raised CubeSmart from a "hold" rating to a "buy" rating and decreased their target price for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada reduced their price objective on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of "Hold" and an average price target of $47.31.

CubeSmart Stock Performance

CUBE traded down $0.05 on Friday, hitting $39.90. 456,314 shares of the stock traded hands, compared to its average volume of 1,434,512. The business has a fifty day moving average price of $40.72 and a two-hundred day moving average price of $43.81. 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 firm has a market capitalization of $9.14 billion, a PE ratio of 22.52, a P/E/G ratio of 11.58 and a beta of 0.85.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 EPS 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 return on equity of 14.33% and a net margin of 37.79%. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.21%. The ex-dividend date was Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) 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.