Schonfeld Strategic Advisors LLC Sells 168,824 Shares of CubeSmart (NYSE:CUBE)

Schonfeld Strategic Advisors LLC cut its stake in CubeSmart (NYSE:CUBE - Free Report) by 78.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,690 shares of the real estate investment trust's stock after selling 168,824 shares during the period. Schonfeld Strategic Advisors LLC's holdings in CubeSmart were worth $2,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 289 shares in the last quarter. Thrivent Financial for Lutherans grew its position in CubeSmart by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 53,212 shares of the real estate investment trust's stock worth $2,280,000 after acquiring an additional 306 shares in the last quarter. Magnetar Financial LLC grew its position in CubeSmart by 2.3% in the fourth quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after acquiring an additional 320 shares in the last quarter. Mariner LLC grew its position in CubeSmart by 2.5% in the fourth quarter. Mariner LLC now owns 13,653 shares of the real estate investment trust's stock worth $585,000 after acquiring an additional 328 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in CubeSmart by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,984 shares of the real estate investment trust's stock worth $299,000 after purchasing an additional 342 shares during the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho assumed coverage on shares of CubeSmart in a research report on Wednesday, April 9th. They set a "neutral" rating and a $39.00 price target for the company. Barclays cut their price target on shares of CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut 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 report on Friday, February 21st. Finally, Evercore ISI upped their price target on shares of 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 four have given a buy rating to the stock. Based on data from MarketBeat, CubeSmart has a consensus rating of "Hold" and an average target price of $46.85.

CubeSmart Trading Up 0.5%

Shares of NYSE:CUBE traded up $0.22 during midday trading on Friday, hitting $42.68. 1,284,289 shares of the stock traded hands, compared to its average volume of 1,473,596. The stock has a market capitalization of $9.73 billion, a PE ratio of 24.11, a P/E/G ratio of 11.58 and a beta of 1.00. The business's 50 day moving average is $40.58 and its two-hundred day moving average is $43.09. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a one year low of $34.24 and a one year high of $55.14.

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

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is 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.