Albion Financial Group UT cut its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 34.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,911 shares of the real estate investment trust's stock after selling 29,753 shares during the quarter. Albion Financial Group UT's holdings in CubeSmart were worth $2,431,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 389 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 559 shares during the period. Huntington National Bank increased its position in CubeSmart by 307.0% during the fourth quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 915 shares during the last quarter. Quantbot Technologies LP acquired a new stake in CubeSmart during the fourth quarter worth about $58,000. Finally, Farther Finance Advisors LLC raised its stake in CubeSmart by 446.2% during the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 1,468 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.
CubeSmart Stock Up 1.1%
NYSE:CUBE traded up $0.49 during mid-day trading on Thursday, hitting $43.51. The stock had a trading volume of 909,663 shares, compared to its average volume of 1,551,587. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a 50-day simple moving average of $42.34 and a two-hundred day simple moving average of $41.70. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $9.92 billion, a PE ratio of 25.75, a PEG ratio of 7.83 and a beta of 0.96.
CubeSmart (NYSE:CUBE - Get Free Report) last announced 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. The company had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a net margin of 37.05% and a return on equity of 13.57%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current year.
CubeSmart Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Tuesday, July 1st. CubeSmart's dividend payout ratio (DPR) is 123.08%.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Barclays decreased their price objective on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Friday, May 16th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $48.00 to $49.00 in a report on Friday, June 20th. KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Finally, BNP Paribas raised CubeSmart to a "hold" rating in a research note on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.38.
Read Our Latest Stock Analysis on CubeSmart
About CubeSmart
(
Free Report)
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.
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