CubeSmart (CUBE) To Go Ex-Dividend on April 1st

CubeSmart (NYSE:CUBE) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 1st will be given a dividend of 0.53 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 1st.

CubeSmart has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 16 years. CubeSmart has a payout ratio of 135.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 78.8%.

CubeSmart Price Performance

NYSE:CUBE opened at $39.79 on Thursday. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 12.26 and a beta of 1.12. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The business has a 50 day simple moving average of $37.73 and a 200-day simple moving average of $38.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47.

Hedge Funds Weigh In On CubeSmart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of CubeSmart in the fourth quarter valued at approximately $395,968,000. Millennium Management LLC raised its stake in CubeSmart by 201.5% in the 4th quarter. Millennium Management LLC now owns 2,739,600 shares of the real estate investment trust’s stock valued at $98,763,000 after purchasing an additional 1,830,993 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in CubeSmart by 36.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in CubeSmart by 37.3% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock valued at $136,805,000 after purchasing an additional 914,884 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in CubeSmart by 3,255.9% during the 4th quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock worth $26,655,000 after purchasing an additional 717,350 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.