Dimensional Fund Advisors LP raised its position in shares of CubeSmart (NYSE:CUBE) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,324,568 shares of the company’s stock after buying an additional 79,734 shares during the period. Dimensional Fund Advisors LP owned about 1.30% of CubeSmart worth $71,781,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of CUBE. PNC Financial Services Group Inc. raised its position in CubeSmart by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 5,018 shares of the company’s stock worth $155,000 after buying an additional 581 shares during the period. Neuberger Berman Group LLC raised its position in CubeSmart by 5.0% in the second quarter. Neuberger Berman Group LLC now owns 6,770 shares of the company’s stock worth $209,000 after buying an additional 324 shares during the period. Pacad Investment Ltd. bought a new position in CubeSmart during the first quarter worth $263,000. Invictus RG bought a new position in CubeSmart during the first quarter worth $270,000. Finally, Ausdal Financial Partners Inc. bought a new position in CubeSmart during the second quarter worth $255,000.
CubeSmart (NYSE:CUBE) traded up 0.68% during trading on Wednesday, reaching $28.18. The company had a trading volume of 360,557 shares. The company has a market capitalization of $5.05 billion, a P/E ratio of 57.16 and a beta of 0.70. The firm’s 50 day moving average is $27.51 and its 200-day moving average is $30.20. CubeSmart has a 12 month low of $26.24 and a 12 month high of $33.52.
CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 28th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. CubeSmart had a return on equity of 5.57% and a net margin of 19.26%. The firm had revenue of $126.53 million for the quarter, compared to analysts’ expectations of $124.94 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts expect that CubeSmart will post $1.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 29th. CubeSmart’s payout ratio is currently 171.43%.
A number of equities analysts have weighed in on CUBE shares. FBR & Co started coverage on CubeSmart in a research note on Thursday, June 23rd. They set an “outperform” rating and a $35.00 price objective on the stock. DA Davidson started coverage on CubeSmart in a research note on Friday, June 24th. They set a “neutral” rating and a $35.00 price objective on the stock. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, July 5th. SunTrust Banks Inc. lowered CubeSmart from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $37.00 to $33.00 in a research note on Monday, July 25th. Finally, Jefferies Group reissued a “buy” rating on shares of CubeSmart in a research note on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.05.
In related news, Director William M. Diefenderfer III sold 2,961 shares of CubeSmart stock in a transaction 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 $3,501,243.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.13% of the stock is owned by corporate insiders.
CubeSmart Company Profile
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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