Westpac Banking Corp grew its stake in shares of CubeSmart (NYSE:CUBE) by 66.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 619,799 shares of the real estate investment trust’s stock after acquiring an additional 248,400 shares during the quarter. Westpac Banking Corp owned about 0.34% of CubeSmart worth $17,925,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of CUBE. Cohen & Steers Inc. increased its holdings in shares of CubeSmart by 349.3% during the third quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock valued at $358,985,000 after acquiring an additional 10,750,476 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of CubeSmart by 43,425.1% during the third quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock valued at $184,176,000 after acquiring an additional 7,078,292 shares in the last quarter. Cbre Clarion Securities LLC increased its holdings in shares of CubeSmart by 62.1% during the second quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock valued at $152,041,000 after acquiring an additional 2,423,464 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of CubeSmart during the third quarter valued at about $47,549,000. Finally, Citadel Advisors LLC increased its holdings in shares of CubeSmart by 287.3% during the third quarter. Citadel Advisors LLC now owns 1,564,845 shares of the real estate investment trust’s stock valued at $40,623,000 after acquiring an additional 1,160,777 shares in the last quarter.
Shares of CubeSmart (NYSE:CUBE) opened at $27.38 on Thursday. The company has a market capitalization of $4,948.92, a P/E ratio of 41.49, a P/E/G ratio of 3.36 and a beta of 0.22. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.18). CubeSmart had a return on equity of 7.58% and a net margin of 22.19%. equities analysts expect that CubeSmart will post 1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, December 29th. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. CubeSmart’s dividend payout ratio is currently 181.82%.
In other CubeSmart news, CFO Timothy M. Martin sold 83,409 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $29.32, for a total value of $2,445,551.88. Following the sale, the chief financial officer now owns 228,948 shares in the company, valued at approximately $6,712,755.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher P. Marr sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $29.33, for a total value of $175,980.00. Following the completion of the sale, the chief executive officer now owns 410,138 shares in the company, valued at approximately $12,029,347.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,425 shares of company stock worth $4,915,172. Insiders own 1.20% of the company’s stock.
Several equities analysts have recently issued reports on CUBE shares. Robert W. Baird restated a “buy” rating and set a $27.00 price objective on shares of CubeSmart in a report on Tuesday, October 17th. BidaskClub upgraded CubeSmart from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Jefferies Group reiterated a “buy” rating and issued a $30.00 target price on shares of CubeSmart in a research report on Tuesday, October 24th. Cantor Fitzgerald reiterated a “buy” rating and issued a $28.00 target price on shares of CubeSmart in a research report on Thursday, October 26th. Finally, FBR & Co reiterated a “buy” rating and issued a $32.00 target price on shares of CubeSmart in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. CubeSmart has a consensus rating of “Hold” and a consensus price target of $29.00.
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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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