Jane Street Group LLC cut its position in CubeSmart (NYSE:CUBE – Free Report) by 28.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,648 shares of the real estate investment trust’s stock after selling 10,387 shares during the quarter. Jane Street Group LLC’s holdings in CubeSmart were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new position in CubeSmart in the 4th quarter worth about $181,000. AQR Capital Management LLC boosted its holdings in CubeSmart by 101.6% during the 4th quarter. AQR Capital Management LLC now owns 127,499 shares of the real estate investment trust’s stock valued at $5,435,000 after acquiring an additional 64,262 shares during the period. Northern Trust Corp boosted its stake in shares of CubeSmart by 46.6% during the fourth quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust’s stock valued at $161,067,000 after purchasing an additional 1,195,246 shares during the period. Tudor Investment Corp ET AL grew its holdings in CubeSmart by 470.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 216,293 shares of the real estate investment trust’s stock worth $9,268,000 after acquiring an additional 178,350 shares during the last quarter. Finally, Quarry LP grew its stake in shares of CubeSmart by 279.0% in the fourth quarter. Quarry LP now owns 5,196 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 3,825 shares during the last quarter. 97.61% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Wolfe Research began coverage on shares of CubeSmart in a report on Monday. They issued an “outperform” rating and a $48.00 price objective on the stock. Evercore ISI lifted their target price on shares of CubeSmart from $44.00 to $47.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Bank of America upgraded shares of CubeSmart from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $50.00 in a research note on Tuesday, May 13th. Finally, Truist Financial upped their price target on CubeSmart from $47.00 to $48.00 and gave the company a “buy” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.07.
CubeSmart Price Performance
NYSE CUBE opened at $41.58 on Thursday. The company has a 50-day moving average price of $40.71 and a 200-day moving average price of $42.88. CubeSmart has a 52 week low of $34.24 and a 52 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. The firm has a market capitalization of $9.48 billion, a P/E ratio of 23.49, a PEG ratio of 11.58 and a beta of 1.00.
CubeSmart (NYSE:CUBE – Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $273.04 million during the quarter, compared to analyst estimates of $268.16 million. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is 123.08%.
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.
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