Crestline Management LP purchased a new position in shares of CubeSmart (NYSE:CUBE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,597 shares of the real estate investment trust’s stock, valued at approximately $2,456,000.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in CubeSmart during the third quarter worth $879,000. Meeder Asset Management Inc. bought a new stake in CubeSmart during the fourth quarter worth $397,000. SG Americas Securities LLC lifted its stake in CubeSmart by 118.5% during the third quarter. SG Americas Securities LLC now owns 141,027 shares of the real estate investment trust’s stock worth $4,024,000 after purchasing an additional 76,489 shares during the last quarter. Hsbc Holdings PLC lifted its stake in CubeSmart by 12.4% during the third quarter. Hsbc Holdings PLC now owns 1,403,631 shares of the real estate investment trust’s stock worth $40,045,000 after purchasing an additional 154,543 shares during the last quarter. Finally, Strs Ohio lifted its stake in CubeSmart by 28.5% during the fourth quarter. Strs Ohio now owns 468,500 shares of the real estate investment trust’s stock worth $13,441,000 after purchasing an additional 103,912 shares during the last quarter.

Shares of NYSE:CUBE opened at $31.39 on Friday. The firm has a market cap of $5.87 billion, a P/E ratio of 19.14, a P/E/G ratio of 5.08 and a beta of 0.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a 12-month low of $27.04 and a 12-month high of $33.18.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 21st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $134.74 million during the quarter, compared to analyst estimates of $154.27 million. CubeSmart had a return on equity of 9.74% and a net margin of 28.32%. CubeSmart’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Analysts expect that CubeSmart will post 1.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, March 29th. CubeSmart’s dividend payout ratio is currently 78.05%.

In other CubeSmart news, CFO Timothy M. Martin sold 60,207 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.51, for a total transaction of $1,897,122.57. Following the completion of the sale, the chief financial officer now directly owns 242,443 shares in the company, valued at approximately $7,639,378.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher P. Marr sold 60,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $31.51, for a total value of $1,890,600.00. Following the sale, the chief executive officer now owns 444,877 shares of the company’s stock, valued at $14,018,074.27. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $30.00 price target on shares of CubeSmart in a research note on Sunday, February 24th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $32.03.

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CubeSmart Company Profile

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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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