Bokf Na increased its stake in shares of CubeSmart (NYSE:CUBE) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,561 shares of the real estate investment trust’s stock after acquiring an additional 2,861 shares during the quarter. Bokf Na’s holdings in CubeSmart were worth $2,397,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Whittier Trust Co. bought a new position in shares of CubeSmart during the fourth quarter worth $29,000. We Are One Seven LLC purchased a new stake in CubeSmart during the fourth quarter valued at $50,000. Enlightenment Research LLC purchased a new stake in CubeSmart during the fourth quarter valued at $106,000. Oppenheimer Asset Management Inc. purchased a new stake in CubeSmart during the fourth quarter valued at $119,000. Finally, NumerixS Investment Technologies Inc raised its stake in CubeSmart by 80.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 5,040 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 2,240 shares in the last quarter.
A number of equities research analysts recently issued reports on CUBE shares. Bank of America raised shares of CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target on the stock in a research note on Thursday, November 15th. BMO Capital Markets downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 9th. ValuEngine downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, December 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $32.03.
CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The company had revenue of $134.74 million for the quarter, compared to the consensus estimate of $154.27 million. CubeSmart had a net margin of 28.32% and a return on equity of 9.74%. CubeSmart’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities research analysts predict that CubeSmart will post 1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, March 29th. CubeSmart’s dividend payout ratio is currently 78.05%.
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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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