Nisa Investment Advisors LLC Has $286,000 Stake in CubeSmart (CUBE)
Nisa Investment Advisors LLC maintained its position in shares of CubeSmart (NYSE:CUBE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,500 shares of the real estate investment trust’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in CubeSmart were worth $286,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of CubeSmart by 2.7% in the first quarter. Vanguard Group Inc. now owns 27,937,327 shares of the real estate investment trust’s stock worth $725,254,000 after buying an additional 735,099 shares in the last quarter. BlackRock Inc. raised its position in shares of CubeSmart by 4,480.2% in the first quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock worth $314,886,000 after buying an additional 11,864,899 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of CubeSmart by 43.5% in the first quarter. Bank of New York Mellon Corp now owns 10,337,011 shares of the real estate investment trust’s stock worth $268,349,000 after buying an additional 3,135,371 shares in the last quarter. State Street Corp raised its position in shares of CubeSmart by 1.9% in the first quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock worth $144,956,000 after buying an additional 101,843 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of CubeSmart by 155.8% in the first quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock worth $89,555,000 after buying an additional 2,101,363 shares in the last quarter.
CubeSmart (NYSE:CUBE) traded up 0.83% during mid-day trading on Monday, hitting $24.37. The stock had a trading volume of 308,086 shares. CubeSmart has a 52 week low of $22.83 and a 52 week high of $28.98. The stock has a market capitalization of $4.39 billion, a P/E ratio of 42.09 and a beta of 0.19. The company’s 50 day moving average is $24.08 and its 200-day moving average is $25.37.
CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The business had revenue of $138.60 million during the quarter, compared to analysts’ expectations of $138.07 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts expect that CubeSmart will post $0.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s payout ratio is 186.21%.
Several research firms have recently issued reports on CUBE. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub raised CubeSmart from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Bank of America Corporation lowered CubeSmart from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $27.75 to $25.00 in a report on Thursday, July 20th. Citigroup Inc. reissued a “neutral” rating and set a $27.00 target price (down from $29.00) on shares of CubeSmart in a report on Thursday, May 11th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $31.00 target price on shares of CubeSmart in a report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $28.71.
CubeSmart Company Profile
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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