OppenheimerFunds Inc. lowered its position in shares of CubeSmart (NYSE:CUBE) by 15.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 441,563 shares of the real estate investment trust’s stock after selling 80,017 shares during the period. OppenheimerFunds Inc.’s holdings in CubeSmart were worth $14,227,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in CubeSmart by 837.5% in the second quarter. American Century Companies Inc. now owns 1,284,859 shares of the real estate investment trust’s stock worth $41,398,000 after purchasing an additional 1,147,811 shares during the period. Allianz Asset Management GmbH lifted its holdings in CubeSmart by 150.2% in the first quarter. Allianz Asset Management GmbH now owns 1,624,085 shares of the real estate investment trust’s stock worth $45,799,000 after purchasing an additional 974,997 shares during the period. Cbre Clarion Securities LLC lifted its holdings in CubeSmart by 11.5% in the second quarter. Cbre Clarion Securities LLC now owns 8,474,692 shares of the real estate investment trust’s stock worth $273,055,000 after purchasing an additional 875,279 shares during the period. Russell Investments Group Ltd. lifted its holdings in CubeSmart by 100.3% in the first quarter. Russell Investments Group Ltd. now owns 1,103,305 shares of the real estate investment trust’s stock worth $31,110,000 after purchasing an additional 552,592 shares during the period. Finally, BlackRock Inc. lifted its holdings in CubeSmart by 4.1% in the second quarter. BlackRock Inc. now owns 13,629,625 shares of the real estate investment trust’s stock worth $439,146,000 after purchasing an additional 537,665 shares during the period.

Shares of NYSE CUBE opened at $29.50 on Wednesday. CubeSmart has a twelve month low of $24.96 and a twelve month high of $33.18. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 3.64 and a beta of 0.08.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.41. CubeSmart had a net margin of 25.89% and a return on equity of 9.22%. The company had revenue of $147.82 million during the quarter, compared to the consensus estimate of $148.68 million. During the same period in the prior year, the company earned $0.39 EPS. CubeSmart’s revenue was up 6.7% on a year-over-year basis. equities research analysts forecast that CubeSmart will post 1.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.20 annualized dividend and a yield of 4.07%. CubeSmart’s payout ratio is presently 75.47%.

Several research firms recently weighed in on CUBE. Evercore ISI raised shares of CubeSmart from an “in-line” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Monday, September 10th. SunTrust Banks set a $32.00 price target on shares of CubeSmart and gave the company a “hold” rating in a report on Tuesday, August 7th. ValuEngine downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Citigroup upped their price target on shares of CubeSmart from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.00.

CubeSmart Company Profile

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 secure storage space for residential and commercial customers. According to the 2018 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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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