MetLife Investment Management LLC Raises Stock Holdings in CubeSmart (NYSE:CUBE)

MetLife Investment Management LLC boosted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 134,082 shares of the real estate investment trust's stock after buying an additional 10,880 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of CubeSmart worth $5,745,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp grew its position in CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 389 shares during the last quarter. Versant Capital Management Inc increased its stake in CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the period. SRS Capital Advisors Inc. increased its stake in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of CubeSmart by 59.4% during the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 351 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CUBE shares. Truist Financial upgraded shares of CubeSmart from a "hold" rating to a "buy" rating and cut their price target for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Mizuho assumed coverage on shares of CubeSmart in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Royal Bank of Canada dropped their price objective on CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Finally, Barclays reduced their price objective on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $47.31.

CubeSmart Stock Down 0.6 %

CUBE traded down $0.26 on Tuesday, hitting $39.37. The company had a trading volume of 328,983 shares, compared to its average volume of 1,439,449. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 11.58 and a beta of 0.85. The stock has a fifty day moving average price of $40.65 and a 200-day moving average price of $43.57. 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 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. Analysts predict 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. Shareholders of record on Tuesday, April 1st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's dividend payout ratio is presently 120.93%.

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.