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CubeSmart (NYSE:CUBE) Shares Sold by DekaBank Deutsche Girozentrale

CubeSmart logo with Finance background

DekaBank Deutsche Girozentrale cut its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 21.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,672 shares of the real estate investment trust's stock after selling 34,509 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of CubeSmart worth $5,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its position in CubeSmart by 7.4% during the 1st quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 255 shares in the last quarter. Thrivent Financial for Lutherans raised its position in CubeSmart by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock valued at $2,280,000 after purchasing an additional 306 shares in the last quarter. Magnetar Financial LLC raised its position in CubeSmart by 2.3% during the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock valued at $606,000 after purchasing an additional 320 shares in the last quarter. Mariner LLC raised its position in CubeSmart by 2.5% during the 4th quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 328 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in CubeSmart by 0.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 50,534 shares of the real estate investment trust's stock valued at $2,165,000 after purchasing an additional 370 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Performance

Shares of CUBE stock traded up $0.01 during mid-day trading on Friday, hitting $42.31. 2,258,087 shares of the stock were exchanged, compared to its average volume of 1,572,356. The stock's fifty day simple moving average is $42.67 and its two-hundred day simple moving average is $41.66. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 7.78 and a beta of 0.96. CubeSmart has a 12-month low of $34.24 and a 12-month 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.

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

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Tuesday, July 1st. CubeSmart's payout ratio is currently 123.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CUBE. Truist Financial lifted their price target on CubeSmart from $47.00 to $48.00 and gave the company a "buy" rating in a report on Monday, May 19th. Scotiabank lifted their price target on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $50.00 in a report on Tuesday, May 13th. Wolfe Research began coverage on CubeSmart in a report on Monday, May 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, BNP Paribas Exane began coverage on CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $47.38.

Check Out Our Latest Stock Analysis on CUBE

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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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