CubeSmart (NYSE:CUBE) Stock Holdings Trimmed by Capital Research Global Investors

Capital Research Global Investors decreased its position in CubeSmart (NYSE:CUBE) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,851,247 shares of the real estate investment trust’s stock after selling 361,932 shares during the quarter. Capital Research Global Investors owned 0.82% of CubeSmart worth $79,326,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CUBE. Capital World Investors lifted its holdings in CubeSmart by 184.5% in the fourth quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust’s stock worth $126,161,000 after acquiring an additional 1,909,496 shares during the last quarter. First Trust Advisors LP grew its stake in CubeSmart by 851.2% during the 4th quarter. First Trust Advisors LP now owns 1,131,808 shares of the real estate investment trust’s stock worth $48,498,000 after buying an additional 1,012,816 shares during the last quarter. GeoWealth Management LLC increased its position in CubeSmart by 16.2% in the fourth quarter. GeoWealth Management LLC now owns 3,074 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 429 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in CubeSmart by 4.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 440,099 shares of the real estate investment trust’s stock valued at $18,850,000 after buying an additional 19,849 shares during the last quarter. Finally, Farringdon Capital Ltd. acquired a new position in shares of CubeSmart during the fourth quarter valued at $329,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Down 2.9 %

CubeSmart stock opened at $38.44 on Tuesday. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 11.58 and a beta of 0.85. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The firm’s 50 day moving average price is $40.84 and its two-hundred day moving average price is $43.95. 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 (NYSE:CUBE) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.23. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. On average, research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.52 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.41%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CUBE shares. Scotiabank lowered shares of CubeSmart from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. Jefferies Financial Group lowered 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 upgraded 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. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price objective 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. Nine 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.31.

About CubeSmart

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.