Fifth Third Bancorp increased its position in CubeSmart (NYSE:CUBE) by 3.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 96,673 shares of the real estate investment trust’s stock after buying an additional 2,787 shares during the period. Fifth Third Bancorp’s holdings in CubeSmart were worth $2,510,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CUBE. Commonwealth Bank of Australia bought a new stake in CubeSmart during the third quarter worth $33,142,000. GRS Advisors LLC raised its position in shares of CubeSmart by 29.6% in the third quarter. GRS Advisors LLC now owns 729,146 shares of the real estate investment trust’s stock worth $19,877,000 after buying an additional 166,459 shares during the period. Hsbc Holdings PLC raised its position in shares of CubeSmart by 38.1% in the third quarter. Hsbc Holdings PLC now owns 1,146,554 shares of the real estate investment trust’s stock worth $31,256,000 after buying an additional 316,026 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of CubeSmart by 36.9% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 92,800 shares of the real estate investment trust’s stock worth $2,530,000 after buying an additional 25,000 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in shares of CubeSmart during the third quarter worth approximately $4,253,000. 99.91% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

CubeSmart (NYSE CUBE) traded down 2.08% during midday trading on Tuesday, reaching $23.99. 1,981,257 shares of the company’s stock traded hands. The company’s 50-day moving average price is $25.58 and its 200-day moving average price is $25.93. CubeSmart has a 52-week low of $23.65 and a 52-week high of $32.13. The stock has a market cap of $4.32 billion, a P/E ratio of 47.41 and a beta of 0.27.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. CubeSmart had a net margin of 19.93% and a return on equity of 5.84%. The firm had revenue of $133 million during the quarter, compared to analysts’ expectations of $133.30 million. During the same period last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that CubeSmart will post $0.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.08 dividend on an annualized basis and a yield of 4.50%. CubeSmart’s dividend payout ratio (DPR) is currently 207.70%.

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A number of equities analysts have recently commented on CUBE shares. Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. BMO Capital Markets reiterated a “buy” rating and set a $29.00 price target on shares of CubeSmart in a report on Friday, February 17th. Citigroup Inc reiterated a “neutral” rating and set a $27.00 price target (down previously from $29.00) on shares of CubeSmart in a report on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating and set a $31.00 price target on shares of CubeSmart in a report on Tuesday, April 18th. Finally, Cantor Fitzgerald cut their price target on shares of CubeSmart from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.40.

CubeSmart Company Profile

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

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