Epoch Investment Partners Inc. Cuts Stock Position in CubeSmart (NYSE:CUBE)

Epoch Investment Partners Inc. reduced its position in CubeSmart (NYSE:CUBE) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 935,189 shares of the real estate investment trust’s stock after selling 23,275 shares during the quarter. Epoch Investment Partners Inc. owned 0.42% of CubeSmart worth $42,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in CubeSmart during the 1st quarter valued at about $26,000. Mather Group LLC. bought a new position in CubeSmart during the 1st quarter valued at approximately $26,000. GAMMA Investing LLC bought a new position in CubeSmart during the 4th quarter valued at approximately $28,000. Signaturefd LLC raised its position in CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new position in CubeSmart during the 4th quarter valued at approximately $37,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI upped their price target on CubeSmart from $44.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Raymond James increased their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, BMO Capital Markets lowered CubeSmart from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $50.00 to $47.00 in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.36.

CubeSmart Stock Performance

Shares of CUBE stock traded up $0.63 on Friday, reaching $47.64. The stock had a trading volume of 1,357,144 shares, compared to its average volume of 1,079,267. The stock has a market cap of $10.72 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 8.24 and a beta of 0.80. CubeSmart has a 1 year low of $33.17 and a 1 year high of $49.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The company has a 50 day simple moving average of $44.61 and a 200 day simple moving average of $43.99.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.22). The firm had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a return on equity of 14.48% and a net margin of 38.64%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.51 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.28%. CubeSmart’s dividend payout ratio (DPR) is currently 113.33%.

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.