CubeSmart (NYSE:CUBE) Shares Bought by Capital Fund Management S.A.

Capital Fund Management S.A. increased its position in CubeSmart (NYSE:CUBEFree Report) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,132 shares of the real estate investment trust’s stock after acquiring an additional 37,541 shares during the period. Capital Fund Management S.A. owned approximately 0.08% of CubeSmart worth $8,627,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in CubeSmart during the fourth quarter worth about $444,818,000. Deutsche Bank AG increased its stake in shares of CubeSmart by 1,915.7% during the 3rd quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock worth $116,609,000 after purchasing an additional 2,906,478 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of CubeSmart by 824.1% during the 4th quarter. Centersquare Investment Management LLC now owns 1,127,979 shares of the real estate investment trust’s stock worth $52,282,000 after purchasing an additional 1,005,922 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of CubeSmart by 52.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,806,196 shares of the real estate investment trust’s stock worth $130,067,000 after purchasing an additional 965,006 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in CubeSmart in the 3rd quarter valued at approximately $33,972,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CUBE. Barclays started coverage on CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target for the company. Evercore ISI upped their target price on shares of CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, March 4th. BMO Capital Markets cut shares of CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $47.00 in a research note on Wednesday, May 29th. Raymond James reissued an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Wells Fargo & Company upped their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.17.

Check Out Our Latest Report on CubeSmart

CubeSmart Stock Performance

Shares of CUBE stock opened at $42.54 on Tuesday. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 5.17 and a beta of 0.77. 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 moving average price of $42.71 and a 200 day moving average price of $43.55. CubeSmart has a one year low of $33.17 and a one year high of $47.81.

CubeSmart (NYSE:CUBEGet Free Report) last issued its 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 for 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 firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. Sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.04 annualized dividend and a yield of 4.80%. CubeSmart’s dividend payout ratio is currently 113.33%.

About CubeSmart

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.