CubeSmart $CUBE Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in CubeSmart (NYSE:CUBE) by 43.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,100,292 shares of the real estate investment trust’s stock after purchasing an additional 335,694 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.48% of CubeSmart worth $44,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUBE. Royal Bank of Canada boosted its position in shares of CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after buying an additional 2,284 shares during the period. Jones Financial Companies Lllp lifted its stake in CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after acquiring an additional 19,476 shares during the period. Caxton Associates LLP acquired a new position in CubeSmart in the 1st quarter valued at about $270,000. Finally, Voya Investment Management LLC increased its stake in CubeSmart by 4.2% during the first quarter. Voya Investment Management LLC now owns 32,440 shares of the real estate investment trust’s stock worth $1,386,000 after purchasing an additional 1,311 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CUBE shares. UBS Group lowered their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. Barclays decreased their price target on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday. Mizuho dropped their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, Evercore ISI reduced their price objective on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.73.

CubeSmart Stock Up 1.2%

Shares of CubeSmart stock opened at $39.18 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a market capitalization of $8.93 billion, a P/E ratio of 25.11, a P/E/G ratio of 8.43 and a beta of 1.11. The company has a 50 day moving average of $36.54 and a 200 day moving average of $39.23.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. As a group, research analysts forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is currently 135.90%.

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.