1st Global Advisors Inc. Sells 971 Shares of CubeSmart (CUBE)
1st Global Advisors Inc. lowered its position in CubeSmart (NYSE:CUBE) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,897 shares of the real estate investment trust’s stock after selling 971 shares during the quarter. 1st Global Advisors Inc.’s holdings in CubeSmart were worth $310,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in CubeSmart by 32.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 118,110 shares of the real estate investment trust’s stock worth $2,838,000 after acquiring an additional 29,010 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in CubeSmart by 10.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,782,647 shares of the real estate investment trust’s stock valued at $42,855,000 after buying an additional 168,284 shares in the last quarter. State Street Corp grew its holdings in CubeSmart by 1.9% during the 1st 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 in the last quarter. Paloma Partners Management Co purchased a new position in CubeSmart during the 1st quarter valued at about $557,000. Finally, Century Capital Management LLC grew its holdings in CubeSmart by 12.3% during the 2nd quarter. Century Capital Management LLC now owns 152,350 shares of the real estate investment trust’s stock valued at $3,662,000 after buying an additional 16,665 shares in the last quarter.
A number of research firms have weighed in on CUBE. Robert W. Baird reaffirmed a “buy” rating and set a $27.00 target price on shares of CubeSmart in a report on Tuesday. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BidaskClub raised CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday, September 16th. Raymond James Financial, Inc. lowered CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $28.00 target price (up previously from $27.00) on shares of CubeSmart in a report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.13.
Shares of CubeSmart (NYSE CUBE) opened at 26.24 on Thursday. The stock’s 50 day moving average price is $25.94 and its 200-day moving average price is $25.14. The company has a market cap of $4.73 billion, a P/E ratio of 45.32 and a beta of 0.19. CubeSmart has a 12 month low of $22.83 and a 12 month high of $28.06.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $138.60 million during 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts expect that CubeSmart will post $0.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, September 29th. CubeSmart’s dividend payout ratio is currently 186.21%.
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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