D.A. Davidson & CO. boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,401 shares of the real estate investment trust’s stock after acquiring an additional 164 shares during the quarter. D.A. Davidson & CO.’s holdings in CubeSmart were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in CubeSmart by 31.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,306 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in CubeSmart in the first quarter worth $149,000. Commonwealth Bank of Australia increased its stake in CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 283 shares during the period. Profund Advisors LLC purchased a new stake in CubeSmart in the second quarter worth $214,000. Finally, Private Capital Management Inc. purchased a new stake in CubeSmart in the second quarter worth $216,000.

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A number of brokerages have recently issued reports on CUBE. Zacks Investment Research lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday, September 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $27.00) on shares of CubeSmart in a research note on Thursday, September 14th. KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a research note on Friday, August 25th. Finally, UBS AG lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. CubeSmart has an average rating of “Hold” and an average target price of $28.25.

CubeSmart (NYSE:CUBE) opened at 25.63 on Wednesday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 44.27 and a beta of 0.19. The stock’s 50 day moving average price is $25.40 and its 200 day moving average price is $25.14. CubeSmart has a 52 week low of $22.83 and a 52 week high of $28.06.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The company had revenue of $138.60 million for the quarter, compared to analyst estimates of $138.07 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that CubeSmart will post $0.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.27 per share. The ex-dividend date is Friday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.21%. CubeSmart’s dividend payout ratio is currently 186.21%.

CubeSmart Profile

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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