Copeland Capital Management LLC Sells 558,738 Shares of CubeSmart (NYSE:CUBE)

Copeland Capital Management LLC trimmed its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 99.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,203 shares of the real estate investment trust's stock after selling 558,738 shares during the quarter. Copeland Capital Management LLC's holdings in CubeSmart were worth $51,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CUBE. Norges Bank bought a new position in shares of CubeSmart in the 4th quarter valued at about $408,064,000. Capital World Investors lifted its holdings in CubeSmart by 184.5% during the fourth quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock worth $126,161,000 after acquiring an additional 1,909,496 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in CubeSmart by 219.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock valued at $110,323,000 after acquiring an additional 1,768,626 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of CubeSmart by 27.8% during the fourth 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 purchasing an additional 1,464,331 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of CubeSmart by 46.6% during the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after purchasing an additional 1,195,246 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Price Performance

Shares of CUBE stock traded up $0.41 during trading on Wednesday, hitting $43.02. The company had a trading volume of 1,731,672 shares, compared to its average volume of 1,551,478. The firm has a market capitalization of $9.81 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 7.81 and a beta of 0.96. CubeSmart has a one year low of $34.24 and a one year high of $55.14. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.07 and a current ratio of 0.07. The stock's 50-day moving average price is $42.27 and its 200 day moving average price is $41.69.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The company had revenue of $273.04 million for the quarter, compared to analysts' expectations of $268.16 million. During the same quarter last year, the business earned $0.64 earnings per share. CubeSmart's revenue was up 4.4% on a year-over-year basis. Equities analysts expect that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.83%. CubeSmart's payout ratio is currently 123.08%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank lifted their price target on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. BNP Paribas Exane began coverage on shares of CubeSmart in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective on the stock. Barclays decreased their target price on shares of CubeSmart from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Wolfe Research began coverage on CubeSmart in a report on Monday, May 19th. They set an "outperform" rating and a $48.00 target price on the stock. Finally, Truist Financial boosted their price target on CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and a consensus price target of $47.38.

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.