Honeywell International Inc. cut its stake in shares of CubeSmart (NYSE:CUBE) by 91.8% during the second quarter, Holdings Channel reports. The fund owned 28,870 shares of the real estate investment trust’s stock after selling 325,200 shares during the period. Honeywell International Inc.’s holdings in CubeSmart were worth $694,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in CubeSmart by 2.7% in the first quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock valued at $725,254,000 after buying an additional 735,099 shares during the last quarter. BlackRock Inc. raised its stake in CubeSmart by 4,480.2% in the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock valued at $314,886,000 after buying an additional 11,864,899 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CubeSmart by 43.5% in the first quarter. Bank of New York Mellon Corp now owns 10,337,011 shares of the real estate investment trust’s stock valued at $268,349,000 after buying an additional 3,135,371 shares during the last quarter. State Street Corp raised its stake in CubeSmart by 1.9% in the first quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock valued at $144,956,000 after buying an additional 101,843 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in CubeSmart by 36.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,702,262 shares of the real estate investment trust’s stock valued at $89,002,000 after buying an additional 980,490 shares during the last quarter.

Shares of CubeSmart (NYSE CUBE) opened at 24.48 on Thursday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 42.28 and a beta of 0.19. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.98. The stock has a 50 day moving average price of $24.09 and a 200 day moving average price of $25.39.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts anticipate that CubeSmart will post $0.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, September 29th. CubeSmart’s dividend payout ratio is currently 186.21%.

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CUBE has been the subject of several analyst reports. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub raised CubeSmart from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Bank of America Corporation lowered CubeSmart from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $27.75 to $25.00 in a research note on Thursday, July 20th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research note on Thursday, May 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of CubeSmart in a research note on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. CubeSmart has a consensus rating of “Hold” and a consensus price target of $28.71.

About CubeSmart

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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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