Public Employees Retirement Association of Colorado increased its position in CubeSmart (NYSE:CUBE) by 1.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 380,893 shares of the company’s stock after buying an additional 5,696 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.21% of CubeSmart worth $11,762,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in CubeSmart by 40.2% in the first quarter. Renaissance Technologies LLC now owns 2,055,400 shares of the company’s stock worth $68,445,000 after buying an additional 589,500 shares during the period. Heitman Real Estate Securities LLC acquired a new stake in CubeSmart during the first quarter worth $61,061,000. RS Investment Management Co. LLC boosted its stake in CubeSmart by 16.3% in the second quarter. RS Investment Management Co. LLC now owns 725,470 shares of the company’s stock worth $22,403,000 after buying an additional 101,596 shares during the period. Resolution Capital Ltd boosted its stake in CubeSmart by 50.2% in the second quarter. Resolution Capital Ltd now owns 1,555,035 shares of the company’s stock worth $48,019,000 after buying an additional 519,764 shares during the period. Finally, Capital Analysts LLC boosted its stake in CubeSmart by 812.9% in the second quarter. Capital Analysts LLC now owns 21,380 shares of the company’s stock worth $537,000 after buying an additional 19,038 shares during the period.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

CubeSmart (NYSE:CUBE) traded down 0.57% during mid-day trading on Friday, reaching $26.15. The company had a trading volume of 1,950,900 shares. The stock has a market capitalization of $4.69 billion, a P/E ratio of 53.04 and a beta of 0.47. The stock has a 50 day moving average price of $27.14 and a 200-day moving average price of $29.78. CubeSmart has a 12-month low of $25.40 and a 12-month high of $33.52.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. CubeSmart had a return on equity of 5.57% and a net margin of 19.26%. The business had revenue of $126.53 million for the quarter, compared to analysts’ expectations of $124.94 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that CubeSmart will post $1.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.84 annualized dividend and a yield of 3.21%. CubeSmart’s dividend payout ratio is currently 171.43%.

Several research firms have weighed in on CUBE. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of CubeSmart in a research report on Monday, August 1st. FBR & Co set a $35.00 price objective on CubeSmart and gave the stock a “buy” rating in a research report on Sunday, September 18th. Cantor Fitzgerald reiterated a “buy” rating on shares of CubeSmart in a research report on Friday, August 26th. Finally, Evercore ISI upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. CubeSmart has an average rating of “Buy” and an average target price of $33.55.

In other CubeSmart news, Director William M. Diefenderfer III sold 2,961 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $27.25, for a total value of $80,687.25. Following the transaction, the director now owns 128,486 shares of the company’s stock, valued at $3,501,243.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.13% of the stock is owned by company insiders.

CubeSmart Company Profile

CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.

5 Day Chart for NYSE:CUBE

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