Natixis Advisors L.P. Raises Stock Position in CubeSmart (NYSE:CUBE)
Natixis Advisors L.P. boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,482 shares of the real estate investment trust’s stock after buying an additional 2,373 shares during the period. Natixis Advisors L.P.’s holdings in CubeSmart were worth $5,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of CubeSmart by 1,578.5% during the 1st quarter. FMR LLC now owns 10,155,446 shares of the real estate investment trust’s stock worth $325,381,000 after acquiring an additional 9,550,430 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CubeSmart by 8.4% in the first quarter. Principal Financial Group Inc. now owns 7,225,406 shares of the real estate investment trust’s stock valued at $231,503,000 after purchasing an additional 559,895 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of CubeSmart by 122.1% in the first quarter. Commonwealth Bank of Australia now owns 536,796 shares of the real estate investment trust’s stock valued at $17,196,000 after purchasing an additional 295,063 shares in the last quarter. Marshall Wace LLP boosted its position in shares of CubeSmart by 408.8% during the first quarter. Marshall Wace LLP now owns 318,746 shares of the real estate investment trust’s stock valued at $10,213,000 after buying an additional 256,100 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in CubeSmart by 17.4% during the second quarter. Russell Investments Group Ltd. now owns 1,620,602 shares of the real estate investment trust’s stock worth $54,226,000 after buying an additional 240,141 shares in the last quarter. Hedge funds and other institutional investors own 99.07% of the company’s stock.
In other CubeSmart news, CEO Christopher P. Marr sold 79,888 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $36.15, for a total value of $2,887,951.20. Following the completion of the transaction, the chief executive officer now owns 403,687 shares of the company’s stock, valued at approximately $14,593,285.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy M. Martin sold 32,028 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $35.75, for a total transaction of $1,145,001.00. Following the completion of the transaction, the chief financial officer now directly owns 214,264 shares in the company, valued at approximately $7,659,938. The disclosure for this sale can be found here. Insiders sold a total of 129,707 shares of company stock worth $4,669,870 over the last quarter. Corporate insiders own 1.04% of the company’s stock.
Shares of CubeSmart stock traded up $0.28 during trading hours on Wednesday, hitting $35.34. 43,388 shares of the company’s stock traded hands, compared to its average volume of 1,217,655. CubeSmart has a 12-month low of $27.19 and a 12-month high of $36.32. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 6.53 and a beta of 0.17. The company has a fifty day simple moving average of $35.02 and a 200-day simple moving average of $33.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.09.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.15). The company had revenue of $159.00 million for the quarter, compared to analysts’ expectations of $158.86 million. CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. On average, analysts forecast that CubeSmart will post 1.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, September 30th. CubeSmart’s dividend payout ratio (DPR) is presently 78.05%.
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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