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

Copeland Capital Management LLC reduced its position in CubeSmart (NYSE:CUBE - Free Report) by 99.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares in the last quarter. Huntington National Bank raised its holdings in CubeSmart by 307.0% in 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 in the last quarter. Quantbot Technologies LP bought a new position in CubeSmart in the fourth quarter worth about $58,000. Finally, Farther Finance Advisors LLC raised its holdings in CubeSmart by 446.2% in 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 in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Performance

CUBE opened at $42.35 on Friday. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17. The company has a market cap of $9.65 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 7.79 and a beta of 0.98. The firm's 50-day moving average price is $42.13 and its 200-day moving average price is $41.75.

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

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 annualized dividend and a yield of 4.91%. CubeSmart's dividend payout ratio (DPR) is presently 123.08%.

Analyst Ratings Changes

A number of brokerages have commented on CUBE. Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Scotiabank boosted their target price on shares of CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Wolfe Research began coverage on shares of CubeSmart in a report on Monday, May 19th. They issued an "outperform" rating and a $48.00 target price for the company. BNP Paribas Exane began coverage on shares of CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 target price for the company. Finally, BNP Paribas upgraded shares of CubeSmart to a "hold" rating in a report on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CubeSmart presently has an average rating of "Hold" and a consensus target price of $47.38.

About CubeSmart

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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