Deutsche Bank AG Has $117.37 Million Stock Holdings in CubeSmart (NYSE:CUBE)

Deutsche Bank AG lessened its holdings in CubeSmart (NYSE:CUBE - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,739,066 shares of the real estate investment trust's stock after selling 2,619,666 shares during the period. Deutsche Bank AG owned 1.21% of CubeSmart worth $117,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of CubeSmart by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust's stock worth $1,350,080,000 after buying an additional 85,609 shares during the last quarter. Norges Bank bought a new stake in shares of CubeSmart during the 4th quarter valued at approximately $408,064,000. T. Rowe Price Investment Management Inc. grew its holdings in CubeSmart by 27.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock worth $288,259,000 after acquiring an additional 1,464,331 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CubeSmart by 8.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,299,460 shares of the real estate investment trust's stock worth $184,232,000 after purchasing an additional 352,754 shares during the period. Finally, Northern Trust Corp lifted its position in shares of CubeSmart by 46.6% in the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock worth $161,067,000 after purchasing an additional 1,195,246 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Performance

NYSE CUBE traded down $0.34 during trading hours on Wednesday, hitting $42.31. The company had a trading volume of 2,204,179 shares, compared to its average volume of 1,484,021. The firm has a market cap of $9.64 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The business has a fifty day simple moving average of $40.60 and a 200-day simple moving average of $43.05.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share 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 analyst estimates of $268.16 million. During the same quarter last year, the company posted $0.64 EPS. CubeSmart's revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's dividend payout ratio is currently 123.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CUBE. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Scotiabank increased their price target on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday. Royal Bank of Canada reduced their price target 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. Barclays dropped their price target on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Finally, Mizuho began coverage on shares of CubeSmart in a report on Wednesday, April 9th. They set a "neutral" rating and a $39.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $47.00.

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.