Engineers Gate Manager LP bought a new stake in shares of CubeSmart (NYSE:CUBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,393 shares of the real estate investment trust’s stock, valued at approximately $316,000.

Several other institutional investors also recently added to or reduced their stakes in CUBE. PGGM Investments grew its position in shares of CubeSmart by 50.1% during the 4th quarter. PGGM Investments now owns 11,029,440 shares of the real estate investment trust’s stock valued at $370,699,000 after acquiring an additional 3,680,524 shares during the period. BlackRock Inc. lifted its stake in shares of CubeSmart by 10.9% during the 4th quarter. BlackRock Inc. now owns 15,404,388 shares of the real estate investment trust’s stock valued at $517,742,000 after buying an additional 1,509,918 shares in the last quarter. Sei Investments Co. lifted its stake in shares of CubeSmart by 386.5% during the 3rd quarter. Sei Investments Co. now owns 816,193 shares of the real estate investment trust’s stock valued at $26,370,000 after buying an additional 648,441 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of CubeSmart by 31.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,402,472 shares of the real estate investment trust’s stock valued at $80,747,000 after buying an additional 568,122 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of CubeSmart by 55.2% during the 4th quarter. Barclays PLC now owns 949,068 shares of the real estate investment trust’s stock valued at $31,897,000 after buying an additional 337,724 shares in the last quarter. 99.65% of the stock is owned by hedge funds and other institutional investors.

CubeSmart stock opened at $39.50 on Thursday. The firm’s fifty day moving average price is $37.39 and its 200-day moving average price is $34.64. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $7.91 billion, a P/E ratio of 45.93, a price-to-earnings-growth ratio of 8.51 and a beta of 0.27. CubeSmart has a fifty-two week low of $23.24 and a fifty-two week high of $39.66.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, February 25th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.20). CubeSmart had a net margin of 24.83% and a return on equity of 9.30%. On average, analysts predict that CubeSmart will post 1.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, March 31st. CubeSmart’s dividend payout ratio is currently 80.47%.

In related news, CEO Christopher P. Marr sold 10,000 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the chief executive officer now owns 475,314 shares of the company’s stock, valued at approximately $17,824,275. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.11% of the stock is currently owned by company insiders.

A number of analysts recently commented on the stock. Truist Securities upped their price target on shares of CubeSmart from $37.00 to $39.00 in a research note on Tuesday, March 16th. Truist upped their price target on shares of CubeSmart from $37.00 to $39.00 in a research note on Tuesday, March 16th. BMO Capital Markets upgraded shares of CubeSmart from an “underperform” rating to a “market perform” rating and set a $36.00 price target on the stock in a research note on Thursday, January 7th. Raymond James cut shares of CubeSmart from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 4th. Finally, Zacks Investment Research cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research note on Monday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. CubeSmart currently has an average rating of “Hold” and an average price target of $36.20.

About CubeSmart

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 2020 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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