Intact Investment Management Inc. boosted its stake in CubeSmart (NYSE:CUBE) by 6.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 73,700 shares of the company’s stock after buying an additional 4,200 shares during the period. Intact Investment Management Inc.’s holdings in CubeSmart were worth $1,972,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CUBE. Lasalle Investment Management Securities LLC raised its position in shares of CubeSmart by 13.1% in the third quarter. Lasalle Investment Management Securities LLC now owns 10,927,325 shares of the company’s stock worth $297,879,000 after buying an additional 1,269,774 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of CubeSmart by 1.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,577,582 shares of the company’s stock worth $179,305,000 after buying an additional 88,191 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of CubeSmart by 26.1% in the third quarter. Bank of New York Mellon Corp now owns 5,566,706 shares of the company’s stock worth $151,749,000 after buying an additional 1,152,043 shares during the last quarter. Shinko Asset Management Co. Ltd. raised its position in shares of CubeSmart by 76.1% in the third quarter. Shinko Asset Management Co. Ltd. now owns 3,874,778 shares of the company’s stock worth $105,626,000 after buying an additional 1,673,903 shares during the last quarter. Finally, Security Capital Research & Management Inc. raised its position in shares of CubeSmart by 258.6% in the third quarter. Security Capital Research & Management Inc. now owns 3,695,050 shares of the company’s stock worth $100,727,000 after buying an additional 2,664,542 shares during the last quarter. Institutional investors and hedge funds own 99.91% of the company’s stock.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Shares of CubeSmart (NYSE:CUBE) traded up 1.78% during midday trading on Thursday, reaching $25.77. 2,402,383 shares of the company’s stock were exchanged. CubeSmart has a 12-month low of $23.65 and a 12-month high of $33.52. The stock’s 50 day moving average is $25.99 and its 200-day moving average is $26.34. The stock has a market cap of $4.64 billion, a PE ratio of 49.37 and a beta of 0.27.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.25. CubeSmart had a net margin of 19.93% and a return on equity of 5.84%. The business had revenue of $132.50 million for the quarter, compared to the consensus estimate of $131.57 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts expect that CubeSmart will post $0.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, April 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, March 30th. CubeSmart’s dividend payout ratio (DPR) is presently 207.70%.

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A number of brokerages have recently commented on CUBE. FBR & Co reissued a “buy” rating and issued a $32.00 price target on shares of CubeSmart in a report on Friday, October 28th. Bank of America Corporation lowered shares of CubeSmart from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Friday, January 20th. Zacks Investment Research lowered shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Monday, December 5th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of CubeSmart in a report on Friday, October 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $29.00 target price on shares of CubeSmart in a report on Thursday, January 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.10.

CubeSmart Company Profile

CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.

5 Day Chart for NYSE:CUBE

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