BT Investment Management Ltd Purchases Shares of 127,600 CubeSmart (CUBE)
BT Investment Management Ltd purchased a new position in shares of CubeSmart (NYSE:CUBE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 127,600 shares of the real estate investment trust’s stock, valued at approximately $3,068,000. BT Investment Management Ltd owned approximately 0.07% of CubeSmart as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently made changes to their positions in the company. Commonwealth Bank of Australia increased its holdings in shares of CubeSmart by 3.9% during the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 283 shares in the last quarter. GAM Holding AG increased its holdings in CubeSmart by 2.5% in the second quarter. GAM Holding AG now owns 15,359 shares of the real estate investment trust’s stock valued at $369,000 after purchasing an additional 369 shares during the period. Great West Life Assurance Co. Can increased its holdings in CubeSmart by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 105,874 shares of the real estate investment trust’s stock valued at $2,543,000 after purchasing an additional 541 shares during the period. Utah Retirement Systems increased its holdings in CubeSmart by 1.9% in the first quarter. Utah Retirement Systems now owns 36,700 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 700 shares during the period. Finally, 1st Global Advisors Inc. increased its holdings in CubeSmart by 5.4% in the first quarter. 1st Global Advisors Inc. now owns 13,868 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 710 shares during the period.
Shares of CubeSmart (NYSE:CUBE) opened at 26.31 on Monday. The firm’s 50-day moving average price is $24.80 and its 200-day moving average price is $25.20. CubeSmart has a one year low of $22.83 and a one year high of $28.47. The firm has a market capitalization of $4.74 billion, a P/E ratio of 45.44 and a beta of 0.17.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The firm had revenue of $138.60 million for the quarter, compared to analysts’ expectations of $138.07 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that CubeSmart will post $0.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, September 29th. CubeSmart’s payout ratio is 186.21%.
CUBE has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price objective on CubeSmart from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, May 22nd. BidaskClub upgraded CubeSmart from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Bank of America Corporation downgraded CubeSmart from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $27.75 to $25.00 in a report on Thursday, July 20th. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Finally, Jefferies Group LLC set a $30.00 price objective on CubeSmart and gave the company a “buy” rating in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. CubeSmart presently has an average rating of “Hold” and a consensus price target of $28.25.
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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