CubeSmart (NYSE:CUBE) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,336,798 shares of the real estate investment trust's stock after selling 17,726 shares during the quarter. Dimensional Fund Advisors LP owned about 1.48% of CubeSmart worth $142,979,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CUBE. First Trust Advisors LP boosted its position in shares of CubeSmart by 851.2% during the 4th quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust's stock valued at $48,498,000 after acquiring an additional 1,012,816 shares during the last quarter. GeoWealth Management LLC grew its stake 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 valued at $132,000 after buying an additional 429 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings 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 buying an additional 19,849 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in shares of CubeSmart during the 4th quarter valued at approximately $329,000. Finally, Walleye Capital LLC acquired a new position in CubeSmart in the fourth quarter valued at approximately $315,000. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Up 0.4 %

Shares of NYSE CUBE traded up $0.14 during mid-day trading on Thursday, hitting $40.81. The company had a trading volume of 426,337 shares, compared to its average volume of 1,449,121. CubeSmart has a 1-year low of $34.24 and a 1-year high of $55.14. The company has a market capitalization of $9.34 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The business's 50-day simple moving average is $40.58 and its 200 day simple moving average is $43.53.

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

CubeSmart Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.10%. CubeSmart's payout ratio is currently 120.93%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and reduced their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Wells Fargo & Company lowered their target price on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Barclays reduced their price target 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. Finally, Scotiabank cut shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $52.00 to $46.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $47.31.

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.