Epoch Investment Partners Inc. lessened its stake in shares of CubeSmart (NYSE:CUBE – Free Report) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,364 shares of the real estate investment trust’s stock after selling 385,182 shares during the quarter. Epoch Investment Partners Inc.’s holdings in CubeSmart were worth $806,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of CubeSmart during the 4th quarter worth about $395,968,000. JPMorgan Chase & Co. boosted its stake in CubeSmart by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock valued at $217,162,000 after purchasing an additional 91,694 shares during the period. Geode Capital Management LLC boosted its stake in CubeSmart by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,714,128 shares of the real estate investment trust’s stock valued at $169,975,000 after purchasing an additional 52,207 shares during the period. Alyeska Investment Group L.P. boosted its stake in CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in CubeSmart by 3.1% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,469,724 shares of the real estate investment trust’s stock valued at $125,084,000 after purchasing an additional 105,105 shares during the period. Institutional investors own 97.61% of the company’s stock.
CubeSmart Trading Down 1.4%
Shares of CUBE opened at $41.31 on Tuesday. CubeSmart has a 1 year low of $35.09 and a 1 year high of $43.63. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.29. The stock has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $38.44. The stock has a market cap of $9.35 billion, a PE ratio of 29.09, a PEG ratio of 7.24 and a beta of 1.09.
CubeSmart Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.1%. CubeSmart’s dividend payout ratio is presently 149.30%.
Analyst Ratings Changes
Several analysts recently weighed in on CUBE shares. Mizuho increased their target price on CubeSmart from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Scotiabank upgraded CubeSmart to a “hold” rating in a research note on Thursday, March 19th. Royal Bank Of Canada restated an “outperform” rating and set a $46.00 target price on shares of CubeSmart in a research note on Monday, May 4th. Wells Fargo & Company increased their target price on CubeSmart from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, UBS Group increased their target price on CubeSmart from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.42.
Check Out Our Latest Stock Analysis on CUBE
CubeSmart Company Profile
CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.
In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.
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