CubeSmart (NYSE:CUBE) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its holdings in CubeSmart (NYSE:CUBE - Free Report) by 90.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 102,317 shares of the real estate investment trust's stock after selling 937,144 shares during the period. Janus Henderson Group PLC's holdings in CubeSmart were worth $4,384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CUBE. Vanguard Group Inc. raised its stake in shares of CubeSmart by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 31,507,111 shares of the real estate investment trust's stock valued at $1,350,080,000 after acquiring an additional 85,609 shares during the period. Norges Bank acquired a new stake in CubeSmart in the 4th quarter valued at approximately $408,064,000. T. Rowe Price Investment Management Inc. raised its position in CubeSmart by 27.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock valued at $288,259,000 after purchasing an additional 1,464,331 shares during the period. JPMorgan Chase & Co. lifted its stake in CubeSmart by 8.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,299,460 shares of the real estate investment trust's stock worth $184,232,000 after purchasing an additional 352,754 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in CubeSmart by 46.6% during the fourth quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock worth $161,067,000 after purchasing an additional 1,195,246 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Stock Down 0.0%

NYSE CUBE traded down $0.01 on Friday, hitting $41.26. 1,382,833 shares of the stock were exchanged, compared to its average volume of 1,496,434. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The company has a 50-day moving average price of $40.67 and a 200-day moving average price of $42.75. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market cap of $9.41 billion, a PE ratio of 23.31, a PEG ratio of 11.58 and a beta of 1.00.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $268.16 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid 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 of this dividend is Tuesday, July 1st. CubeSmart's dividend payout ratio is currently 123.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CUBE shares. Scotiabank lifted 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. Royal Bank of Canada dropped their target price on CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Truist Financial increased their price target on shares of CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Bank of America raised shares of CubeSmart from a "neutral" rating to a "buy" rating and raised their price objective for the company from $44.00 to $50.00 in a research note on Tuesday, May 13th. Finally, KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus price target of $47.07.

CubeSmart 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.