UBS Asset Management Americas Inc. increased its stake in shares of CubeSmart (NYSE:CUBE) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 686,141 shares of the company’s stock after buying an additional 49,845 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.38% of CubeSmart worth $21,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of CubeSmart by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 5,018 shares of the company’s stock valued at $155,000 after buying an additional 581 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of CubeSmart by 383.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,420 shares of the company’s stock valued at $180,000 after buying an additional 4,300 shares during the period. Neuberger Berman Group LLC boosted its position in shares of CubeSmart by 5.0% in the second quarter. Neuberger Berman Group LLC now owns 6,770 shares of the company’s stock valued at $209,000 after buying an additional 324 shares during the period. Squarepoint Ops LLC boosted its position in shares of CubeSmart by 0.7% in the first quarter. Squarepoint Ops LLC now owns 7,800 shares of the company’s stock valued at $260,000 after buying an additional 56 shares during the period. Finally, Pacad Investment Ltd. bought a new position in shares of CubeSmart during the first quarter valued at approximately $263,000.

Shares of CubeSmart (NYSE:CUBE) traded up 0.26% during trading on Monday, hitting $26.70. The stock had a trading volume of 770,964 shares. The company’s 50 day moving average price is $28.02 and its 200 day moving average price is $30.47. CubeSmart has a 52 week low of $25.42 and a 52 week high of $33.52. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 54.16 and a beta of 0.70.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm earned $126.53 million during the quarter, compared to analyst estimates of $124.94 million. CubeSmart had a return on equity of 5.57% and a net margin of 19.26%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. Analysts predict that CubeSmart will post $1.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.21 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.15%. CubeSmart’s payout ratio is presently 171.43%.

A number of analysts have recently issued reports on CUBE shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $35.00 price objective on shares of CubeSmart in a research report on Sunday, May 22nd. FBR & Co started coverage on CubeSmart in a research report on Thursday, June 23rd. They issued an “outperform” rating and a $35.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating on shares of CubeSmart in a research report on Monday, August 1st. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, July 5th. Finally, DA Davidson started coverage on CubeSmart in a research report on Friday, June 24th. They issued a “neutral” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $34.05.

In other news, Director William M. Diefenderfer III sold 2,961 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $27.25, for a total value of $80,687.25. Following the transaction, the director now owns 128,486 shares in the company, valued at approximately $3,501,243.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is owned by insiders.

About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.

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