Schroder Investment Management Group Trims Position in CubeSmart (NYSE:CUBE)

Schroder Investment Management Group reduced its position in CubeSmart (NYSE:CUBE) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 705,515 shares of the real estate investment trust’s stock after selling 29,410 shares during the period. Schroder Investment Management Group owned about 0.31% of CubeSmart worth $29,872,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CUBE. Arrowstreet Capital Limited Partnership grew its position in shares of CubeSmart by 45.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 513,921 shares of the real estate investment trust’s stock valued at $22,022,000 after purchasing an additional 160,880 shares during the period. Allstate Corp grew its holdings in CubeSmart by 58.6% in the 4th quarter. Allstate Corp now owns 12,841 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 4,743 shares during the period. Orion Portfolio Solutions LLC grew its holdings in CubeSmart by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 50,534 shares of the real estate investment trust’s stock valued at $2,165,000 after buying an additional 370 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of CubeSmart by 1.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 71,746 shares of the real estate investment trust’s stock valued at $3,074,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of CubeSmart by 4.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 305,102 shares of the real estate investment trust’s stock worth $13,074,000 after acquiring an additional 14,130 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and cut their target price for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. KeyCorp raised 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. Finally, Barclays cut 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. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average target price of $48.00.

CubeSmart Stock Down 1.6 %

NYSE CUBE opened at $42.02 on Wednesday. The stock has a market cap of $9.57 billion, a PE ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88. The business has a 50 day moving average price of $41.92 and a two-hundred day moving average price of $45.56. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. 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 (NYSE:CUBE) last announced its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. As a group, sell-side analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

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

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.