Profund Advisors LLC purchased a new position in CubeSmart (NYSE:CUBE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,908 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in CubeSmart by 31.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 1,306 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in CubeSmart in the 1st quarter worth approximately $149,000. Commonwealth Bank of Australia grew its stake in CubeSmart by 3.9% in the 2nd 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. Private Capital Management Inc. purchased a new position in CubeSmart in the 2nd quarter worth approximately $216,000. Finally, Neuberger Berman Group LLC purchased a new position in CubeSmart in the 1st quarter worth approximately $222,000.

Shares of CubeSmart (CUBE) opened at 26.42 on Friday. CubeSmart has a one year low of $22.83 and a one year high of $28.06. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 45.63 and a beta of 0.19. The stock has a 50 day moving average of $25.85 and a 200-day moving average of $25.13.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share 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 during the quarter, compared to analyst estimates of $138.07 million. During the same period last year, the firm posted $0.36 earnings per share. CubeSmart’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that CubeSmart will post $0.69 earnings per share 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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, September 29th. CubeSmart’s dividend payout ratio (DPR) is presently 186.21%.

A number of research firms have commented on CUBE. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub raised shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Raymond James Financial, Inc. cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Evercore ISI reissued an “outperform” rating and issued a $28.00 price target (up previously from $27.00) on shares of CubeSmart in a research note on Thursday, September 14th. Finally, Jefferies Group LLC set a $30.00 price target on shares of CubeSmart and gave the stock a “buy” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. CubeSmart presently has an average rating of “Hold” and a consensus price target of $28.29.

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About CubeSmart

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.

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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