CubeSmart (NYSE:CUBE) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its stake in shares of CubeSmart (NYSE:CUBE) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705,515 shares of the real estate investment trust’s stock after selling 29,410 shares during the period. Schroder Investment Management Group’s holdings in CubeSmart were worth $29,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew 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 in the last quarter. Blue Trust Inc. lifted its holdings in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of CubeSmart by 134.1% in the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 1.6 %

NYSE:CUBE opened at $42.02 on Wednesday. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 11.58 and a beta of 0.88. 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 has a 1 year low of $39.80 and a 1 year high of $55.14. The business has a fifty day moving average of $41.92 and a 200-day moving average of $45.56.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The firm had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. Equities analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 4.95%. CubeSmart’s payout ratio is 120.93%.

Analysts Set New Price Targets

A number of research firms have commented on CUBE. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. KeyCorp raised shares of CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.00.

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.