Jane Street Group LLC Sells 10,387 Shares of CubeSmart (NYSE:CUBE)

Jane Street Group LLC lessened its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,648 shares of the real estate investment trust's stock after selling 10,387 shares during the quarter. Jane Street Group LLC's holdings in CubeSmart were worth $1,142,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new position in shares of CubeSmart in the 4th quarter worth $181,000. AQR Capital Management LLC raised its holdings in CubeSmart by 101.6% during the fourth quarter. AQR Capital Management LLC now owns 127,499 shares of the real estate investment trust's stock worth $5,435,000 after buying an additional 64,262 shares during the last quarter. Northern Trust Corp lifted its stake in shares of CubeSmart by 46.6% in the fourth quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock valued at $161,067,000 after buying an additional 1,195,246 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of CubeSmart by 470.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 216,293 shares of the real estate investment trust's stock valued at $9,268,000 after buying an additional 178,350 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of CubeSmart by 279.0% during the fourth quarter. Quarry LP now owns 5,196 shares of the real estate investment trust's stock valued at $223,000 after buying an additional 3,825 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CUBE shares. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Scotiabank increased their price objective on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Barclays cut their target price on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Mizuho started coverage on CubeSmart in a report on Wednesday, April 9th. They set a "neutral" rating and a $39.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective 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. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $47.07.

CubeSmart Price Performance

CUBE opened at $41.58 on Thursday. The firm has a market cap of $9.48 billion, a P/E ratio of 23.49, a PEG ratio of 11.58 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The firm has a 50-day moving average of $40.71 and a 200 day moving average of $42.88.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $273.04 million for the quarter, compared to analysts' expectations of $268.16 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.08 annualized dividend and a yield of 5.00%. CubeSmart's dividend payout ratio is currently 123.08%.

CubeSmart Company Profile

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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