CubeSmart (NYSE:CUBE) Stock Position Decreased by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,300 shares of the real estate investment trust's stock after selling 8,500 shares during the quarter. Two Sigma Advisers LP's holdings in CubeSmart were worth $3,184,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of CubeSmart by 54.0% during the 3rd quarter. Barclays PLC now owns 330,549 shares of the real estate investment trust's stock valued at $17,793,000 after acquiring an additional 115,904 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in CubeSmart by 20.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,153 shares of the real estate investment trust's stock worth $135,000 after purchasing an additional 543 shares during the period. Blue Trust Inc. increased its stake in CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 289 shares during the period. KBC Group NV increased its stake in shares of CubeSmart by 54.6% during the fourth quarter. KBC Group NV now owns 9,068 shares of the real estate investment trust's stock worth $389,000 after buying an additional 3,201 shares during the period. Finally, Boston Trust Walden Corp increased its stake in shares of CubeSmart by 3.3% during the fourth quarter. Boston Trust Walden Corp now owns 906,551 shares of the real estate investment trust's stock worth $38,846,000 after buying an additional 29,280 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 1.5%

NYSE:CUBE traded up $0.63 during mid-day trading on Thursday, reaching $42.67. The company's stock had a trading volume of 2,156,541 shares, compared to its average volume of 1,504,817. The company's fifty day simple moving average is $40.66 and its two-hundred day simple moving average is $42.65. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The stock has a market cap of $9.73 billion, a P/E ratio of 24.11, a P/E/G ratio of 11.58 and a beta of 1.00.

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

CubeSmart Announces Dividend

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.87%. CubeSmart's dividend payout ratio (DPR) is 123.08%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada dropped their price target on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Wolfe Research assumed coverage on CubeSmart in a report on Monday, May 19th. They set an "outperform" rating and a $48.00 price target for the company. Wells Fargo & Company cut their price objective on CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Mizuho increased their price objective on CubeSmart from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on CubeSmart from $44.00 to $47.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Nine 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 an average rating of "Hold" and an average price target of $47.33.

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.