Duff & Phelps Investment Management Co. reduced its position in CubeSmart (NYSE:CUBE) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,767,255 shares of the real estate investment trust’s stock after selling 2,100 shares during the period. Duff & Phelps Investment Management Co.’s holdings in CubeSmart were worth $66,525,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in shares of CubeSmart by 36.2% in the first quarter. Daiwa Securities Group Inc. now owns 14,300 shares of the real estate investment trust’s stock worth $371,000 after buying an additional 3,800 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of CubeSmart by 53.3% in the first quarter. Advisors Asset Management Inc. now owns 13,437 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 4,672 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of CubeSmart by 160.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,721,772 shares of the real estate investment trust’s stock worth $70,657,000 after buying an additional 1,676,283 shares during the last quarter. Honeywell International Inc. increased its stake in shares of CubeSmart by 476.7% in the first quarter. Honeywell International Inc. now owns 354,070 shares of the real estate investment trust’s stock worth $9,192,000 after buying an additional 292,670 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of CubeSmart by 3.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,463 shares of the real estate investment trust’s stock worth $739,000 after buying an additional 1,070 shares during the last quarter.

CubeSmart (CUBE) opened at 24.36 on Friday. The firm has a 50-day moving average of $24.08 and a 200-day moving average of $25.38. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.98. The stock has a market capitalization of $4.39 billion, a PE ratio of 42.07 and a beta of 0.19.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The firm had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts expect that CubeSmart will post $0.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.27 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.43%. CubeSmart’s dividend payout ratio is presently 186.21%.

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A number of brokerages have issued reports on CUBE. Jefferies Group LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of CubeSmart in a research report on Tuesday, April 18th. Zacks Investment Research raised shares of CubeSmart from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Cantor Fitzgerald reduced their price objective on shares of CubeSmart from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, May 22nd. Citigroup Inc. reaffirmed a “neutral” rating and issued a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. Finally, BidaskClub downgraded shares of CubeSmart from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. CubeSmart has a consensus rating of “Hold” and a consensus price target of $28.71.

About CubeSmart

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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