CubeSmart (NYSE:CUBE) Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lessened its holdings in CubeSmart (NYSE:CUBE) by 15.0% during the second quarter, HoldingsChannel.com reports. The fund owned 13,427 shares of the real estate investment trust’s stock after selling 2,368 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in CubeSmart were worth $606,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in CubeSmart by 1,575.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock worth $82,277,000 after acquiring an additional 1,711,762 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in CubeSmart by 26.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock valued at $257,191,000 after purchasing an additional 1,205,097 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in CubeSmart during the 1st quarter worth $48,716,000. Centersquare Investment Management LLC boosted its position in CubeSmart by 824.1% in the 4th quarter. Centersquare Investment Management LLC now owns 1,127,979 shares of the real estate investment trust’s stock valued at $52,282,000 after buying an additional 1,005,922 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of CubeSmart by 4,265.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 649,106 shares of the real estate investment trust’s stock valued at $30,086,000 after acquiring an additional 634,237 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial increased their price target on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a report on Friday, August 16th. UBS Group downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. Evercore ISI lifted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada initiated coverage on shares of CubeSmart in a research note on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average target price of $50.50.

Insider Buying and Selling

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the completion of the transaction, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of CubeSmart stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the sale, the chief executive officer now owns 576,836 shares of the company’s stock, valued at approximately $27,947,704.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock valued at $4,244,344 in the last quarter. Company insiders own 1.68% of the company’s stock.

CubeSmart Price Performance

CUBE opened at $53.01 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $50.52 and its 200 day moving average price is $46.05. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $55.14. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 9.86 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23). The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. As a group, sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.85%. CubeSmart’s dividend payout ratio is currently 113.33%.

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.