13,132 Shares in CubeSmart (NYSE:CUBE) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new position in CubeSmart (NYSE:CUBE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,132 shares of the real estate investment trust’s stock, valued at approximately $593,000.

Several other hedge funds also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its position in CubeSmart by 23.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock worth $6,921,000 after acquiring an additional 29,184 shares during the period. American Century Companies Inc. grew its position in CubeSmart by 16.0% in the second quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock worth $25,336,000 after acquiring an additional 77,503 shares during the period. Coldstream Capital Management Inc. grew its position in CubeSmart by 3.9% in the second quarter. Coldstream Capital Management Inc. now owns 43,352 shares of the real estate investment trust’s stock worth $1,958,000 after acquiring an additional 1,626 shares during the period. United Services Automobile Association grew its position in CubeSmart by 8.5% in the second quarter. United Services Automobile Association now owns 17,806 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 1,402 shares during the period. Finally, Wedbush Securities Inc. grew its position in CubeSmart by 8.6% in the second quarter. Wedbush Securities Inc. now owns 7,200 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 571 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Down 0.9 %

NYSE:CUBE opened at $54.04 on Wednesday. The firm has a market cap of $12.17 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 9.86 and a beta of 0.82. The stock has a fifty day moving average price of $49.40 and a 200 day moving average price of $45.54. CubeSmart has a 12-month low of $33.17 and a 12-month high of $54.68. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03.

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

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, October 1st. CubeSmart’s dividend payout ratio is presently 113.33%.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the firm’s 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 sale, the chief operating officer now directly owns 87,663 shares in the company, valued at $4,205,194.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the firm’s 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 sale, the chief operating officer now directly owns 87,663 shares in the company, valued at $4,205,194.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now owns 182,460 shares in the company, valued at $8,630,358. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock worth $4,244,344 over the last ninety days. Corporate insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Scotiabank began coverage on CubeSmart in a research report on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price objective for the company. Wells Fargo & Company raised their price target on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday. Barclays raised their price target on CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Finally, Truist Financial raised their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.75.

CubeSmart 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.