D. E. Shaw & Co. Inc. acquired a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,841 shares of the real estate investment trust's stock, valued at approximately $379,000.
Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 389 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of CubeSmart by 310.6% during the 4th 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 during the period. Huntington National Bank raised its stake in shares of CubeSmart by 307.0% during the 4th 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 period. Finally, Quantbot Technologies LP bought a new stake in shares of CubeSmart during the 4th quarter worth $58,000. 97.61% of the stock is currently owned by institutional investors.
CubeSmart Price Performance
Shares of NYSE CUBE traded up $0.12 during midday trading on Friday, hitting $42.82. 466,796 shares of the company's stock were exchanged, compared to its average volume of 1,498,617. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 11.58 and a beta of 1.00. The business's fifty day moving average price is $40.68 and its two-hundred day moving average price is $42.61.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.
CubeSmart Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.52 per share. 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 4.86%. CubeSmart's dividend payout ratio is presently 123.08%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CUBE shares. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $44.00 to $50.00 in a research note on Tuesday, May 13th. Wolfe Research started coverage on CubeSmart in a research note on Monday, May 19th. They set an "outperform" rating and a $48.00 target price on the stock. Barclays lowered their target price on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Wells Fargo & Company lowered their target price on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Finally, Scotiabank boosted their price objective on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CubeSmart presently has a consensus rating of "Hold" and an average price target of $47.36.
Get Our Latest Research Report on CUBE
CubeSmart Company Profile
(
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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