Nisa Investment Advisors LLC trimmed its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,610 shares of the real estate investment trust's stock after selling 9,206 shares during the quarter. Nisa Investment Advisors LLC's holdings in CubeSmart were worth $2,845,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in CubeSmart by 134.1% during the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after buying an additional 389 shares in the last quarter. Huntington National Bank grew its stake 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 buying an additional 915 shares in the last quarter. Quantbot Technologies LP acquired a new stake in CubeSmart during the fourth quarter worth about $58,000. Farther Finance Advisors LLC grew 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 buying an additional 1,468 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in CubeSmart by 103.5% during the first quarter. UMB Bank n.a. now owns 1,917 shares of the real estate investment trust's stock worth $82,000 after buying an additional 975 shares in the last quarter. 97.61% of the stock is owned by institutional investors.
CubeSmart Trading Up 0.0%
CubeSmart stock traded up $0.01 during mid-day trading on Wednesday, hitting $41.26. 2,232,659 shares of the stock were exchanged, compared to its average volume of 1,574,040. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14. The firm's fifty day simple moving average is $42.64 and its two-hundred day simple moving average is $41.64. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 7.75 and a beta of 0.96.
CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. During the same quarter last year, the firm posted $0.64 EPS. CubeSmart's revenue was up 4.4% compared to the same quarter last year. Analysts forecast that CubeSmart will post 2.64 EPS for the current year.
CubeSmart Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Tuesday, July 1st. CubeSmart's dividend payout ratio is 123.08%.
Analyst Ratings Changes
CUBE has been the topic of a number of research analyst reports. BNP Paribas Exane initiated coverage on shares of CubeSmart in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price target on the stock. Mizuho raised their price target on shares of CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Scotiabank raised their price target on shares of CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and raised their price target for the company from $48.00 to $49.00 in a research note on Friday, June 20th. Finally, Bank of America upgraded shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $47.38.
Get 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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