CubeSmart (NYSE:CUBE)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.86 and last traded at $34.75, with a volume of 2522 shares changing hands. The stock had previously closed at $34.66.

Several equities research analysts have recently commented on the stock. Raymond James set a $28.00 target price on shares of Wheaton Precious Metals and gave the company a “buy” rating in a research note on Thursday, March 21st. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CubeSmart has an average rating of “Hold” and an average price target of $32.17.

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.05. The company’s 50 day simple moving average is $33.95. The stock has a market cap of $6.57 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 6.16 and a beta of 0.20.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. CubeSmart had a return on equity of 9.67% and a net margin of 28.02%. The business had revenue of $152.85 million during the quarter, compared to analysts’ expectations of $154.06 million. During the same period in the previous year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that CubeSmart will post 1.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.32 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.66%. CubeSmart’s dividend payout ratio is 78.05%.

In related news, VP Jeffrey P. Foster sold 5,958 shares of CubeSmart stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $32.55, for a total value of $193,932.90. Following the completion of the transaction, the vice president now directly owns 124,739 shares of the company’s stock, valued at $4,060,254.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy M. Martin sold 5,430 shares of CubeSmart stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.50, for a total value of $176,475.00. Following the completion of the transaction, the chief financial officer now directly owns 187,666 shares of the company’s stock, valued at $6,099,145. The disclosure for this sale can be found here. Insiders sold 57,566 shares of company stock valued at $1,869,808 over the last ninety days. 1.04% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Zions Bancorporation N.A. bought a new stake in CubeSmart during the 2nd quarter worth about $32,000. Timbercreek Investment Management Inc. raised its holdings in CubeSmart by 8.4% during the 2nd quarter. Timbercreek Investment Management Inc. now owns 303,390 shares of the real estate investment trust’s stock worth $10,336,000 after purchasing an additional 23,600 shares during the last quarter. WINTON GROUP Ltd raised its holdings in CubeSmart by 19.6% during the 2nd quarter. WINTON GROUP Ltd now owns 91,694 shares of the real estate investment trust’s stock worth $3,066,000 after purchasing an additional 15,031 shares during the last quarter. Eii Capital Management Inc. raised its holdings in CubeSmart by 3.0% during the 2nd quarter. Eii Capital Management Inc. now owns 22,404 shares of the real estate investment trust’s stock worth $749,000 after purchasing an additional 649 shares during the last quarter. Finally, Pensionfund Sabic raised its holdings in CubeSmart by 29.4% during the 2nd quarter. Pensionfund Sabic now owns 22,000 shares of the real estate investment trust’s stock worth $736,000 after purchasing an additional 5,000 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

About CubeSmart (NYSE:CUBE)

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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