DAVENPORT & Co LLC decreased its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 43.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,744 shares of the real estate investment trust's stock after selling 54,232 shares during the quarter. DAVENPORT & Co LLC's holdings in CubeSmart were worth $3,007,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of CubeSmart by 115.2% during the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 501 shares during the last quarter. Covestor Ltd boosted its position in shares of CubeSmart by 22.8% during the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after acquiring an additional 292 shares during the last quarter. Signaturefd LLC boosted its position in shares of CubeSmart by 82.8% during the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 761 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of 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 acquiring an additional 1,468 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of 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 acquiring an additional 975 shares during the last quarter. Institutional investors own 97.61% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. BMO Capital Markets upgraded shares of CubeSmart from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $48.00 to $49.00 in a research report on Friday, June 20th. Wall Street Zen upgraded shares of CubeSmart from a "sell" rating to a "hold" rating in a research report on Sunday, September 21st. UBS Group lowered their price objective on shares of CubeSmart from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of CubeSmart in a research report on Wednesday. Finally, Evercore ISI increased their price objective on shares of CubeSmart from $48.00 to $49.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart currently has an average rating of "Hold" and an average target price of $46.06.
View Our Latest Stock Report on CUBE
CubeSmart Price Performance
CubeSmart stock opened at $39.92 on Thursday. The firm has a 50-day moving average price of $40.23 and a 200-day moving average price of $41.05. The firm has a market capitalization of $9.10 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 8.91 and a beta of 0.96. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.86.
CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $282.30 million during the quarter, compared to analyst estimates of $275.71 million. CubeSmart had a net margin of 35.44% and a return on equity of 13.12%. The business's revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. As a group, equities research analysts forecast that CubeSmart will post 2.64 EPS for the current year.
CubeSmart Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is 126.83%.
CubeSmart 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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