28,005 Shares in CubeSmart (CUBE) Purchased by Marshall Wace North America L.P.
Marshall Wace North America L.P. acquired a new stake in CubeSmart (NYSE:CUBE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,005 shares of the real estate investment trust’s stock, valued at approximately $672,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. BlackRock Inc. lifted its position in shares of CubeSmart by 4,480.2% during the 1st quarter. BlackRock Inc. now owns 12,129,727 shares of the real estate investment trust’s stock valued at $314,886,000 after acquiring an additional 11,864,899 shares during the period. OppenheimerFunds Inc. lifted its position in shares of CubeSmart by 155.8% during the 1st quarter. OppenheimerFunds Inc. now owns 3,449,763 shares of the real estate investment trust’s stock valued at $89,555,000 after acquiring an additional 2,101,363 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CubeSmart by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock valued at $280,612,000 after acquiring an additional 1,335,665 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of CubeSmart by 36.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,702,262 shares of the real estate investment trust’s stock valued at $89,002,000 after acquiring an additional 980,490 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of CubeSmart by 119.8% during the 1st quarter. Ameriprise Financial Inc. now owns 1,712,961 shares of the real estate investment trust’s stock valued at $44,462,000 after acquiring an additional 933,610 shares during the period.
CUBE has been the subject of a number of research reports. Zacks Investment Research downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Bank of America Corporation downgraded shares of CubeSmart from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $27.75 to $25.00 in a research report on Thursday, July 20th. UBS AG downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. BidaskClub upgraded shares of CubeSmart from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, KeyCorp reiterated a “hold” rating on shares of CubeSmart in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.29.
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CubeSmart (NYSE:CUBE) opened at 26.02 on Tuesday. The company’s 50 day moving average price is $24.57 and its 200 day moving average price is $25.21. CubeSmart has a 12 month low of $22.83 and a 12 month high of $28.47. The firm has a market capitalization of $4.69 billion, a P/E ratio of 44.94 and a beta of 0.17.
CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The business had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. During the same period in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that CubeSmart will post $0.69 EPS for the current 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio is presently 186.21%.
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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