State of Wisconsin Investment Board lessened its holdings in shares of CubeSmart (NYSE:CUBE) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 290,557 shares of the real estate investment trust’s stock after selling 70,557 shares during the period. State of Wisconsin Investment Board owned approximately 0.16% of CubeSmart worth $9,362,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Clinton Group Inc. acquired a new stake in CubeSmart in the first quarter valued at $221,000. Intact Investment Management Inc. acquired a new stake in CubeSmart in the second quarter valued at $226,000. GWM Advisors LLC acquired a new stake in CubeSmart in the first quarter valued at $262,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in CubeSmart in the first quarter valued at $265,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in CubeSmart in the second quarter valued at $293,000.
Several research firms have weighed in on CUBE. SunTrust Banks set a $32.00 target price on CubeSmart and gave the company a “hold” rating in a report on Tuesday, August 7th. ValuEngine lowered CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Evercore ISI lowered CubeSmart from an “outperform” rating to an “in-line” rating in a report on Monday, July 16th. Citigroup upped their target price on CubeSmart from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. Finally, Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.36.
NYSE CUBE opened at $31.52 on Tuesday. The stock has a market cap of $5.90 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.87 and a beta of 0.07. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.94. CubeSmart has a twelve month low of $23.46 and a twelve month high of $33.18.
CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $147.82 million for the quarter, compared to the consensus estimate of $148.68 million. CubeSmart had a return on equity of 9.22% and a net margin of 25.89%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. equities analysts anticipate that CubeSmart will post 1.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. CubeSmart’s dividend payout ratio (DPR) is 75.47%.
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 2018 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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