Janus Henderson Group PLC Sells 937,144 Shares of CubeSmart (NYSE:CUBE)

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

Other institutional investors have also recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new stake in shares of CubeSmart during the 4th quarter worth $45,805,000. Graham Capital Management L.P. bought a new stake in shares of CubeSmart during the 4th quarter worth $2,358,000. FORA Capital LLC acquired a new position in CubeSmart in the 4th quarter worth about $284,000. D. E. Shaw & Co. Inc. acquired a new position in CubeSmart in the 4th quarter worth about $379,000. Finally, EP Wealth Advisors LLC increased its stake in shares of CubeSmart by 4.4% in the fourth quarter. EP Wealth Advisors LLC now owns 9,127 shares of the real estate investment trust's stock valued at $391,000 after buying an additional 387 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Up 2.4%

Shares of CUBE stock opened at $43.67 on Monday. 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 business has a 50-day moving average price of $40.62 and a two-hundred day moving average price of $42.91. CubeSmart has a 12-month low of $34.24 and a 12-month high of $55.14. The firm has a market cap of $9.96 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 11.58 and a beta of 1.00.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly 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. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is presently 123.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CUBE shares. Mizuho started coverage on CubeSmart in a research note on Wednesday, April 9th. They set a "neutral" rating and a $39.00 target price for the company. Bank of America upgraded CubeSmart from a "neutral" rating to a "buy" rating and increased their price target for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. KeyCorp upgraded CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Barclays cut their price target on CubeSmart from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Scotiabank increased their price target on CubeSmart from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CubeSmart currently has an average rating of "Hold" and an average target price of $46.93.

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.

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