Epoch Investment Partners Inc. Reduces Holdings in CubeSmart (NYSE:CUBE)

Epoch Investment Partners Inc. trimmed its position in shares of CubeSmart (NYSE:CUBE) by 2.4% in the 1st quarter, Holdings Channel reports. The firm owned 935,189 shares of the real estate investment trust’s stock after selling 23,275 shares during the period. Epoch Investment Partners Inc.’s holdings in CubeSmart were worth $42,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Albion Financial Group UT boosted its stake in CubeSmart by 0.3% during the fourth quarter. Albion Financial Group UT now owns 79,508 shares of the real estate investment trust’s stock worth $3,685,000 after buying an additional 254 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in CubeSmart by 0.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 34,500 shares of the real estate investment trust’s stock worth $1,599,000 after buying an additional 266 shares during the last quarter. Covestor Ltd boosted its stake in CubeSmart by 11.8% during the first quarter. Covestor Ltd now owns 2,637 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 278 shares during the last quarter. Signaturefd LLC boosted its stake in CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 292 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in shares of CubeSmart by 53.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,035 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 359 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Trading Up 1.3 %

Shares of CUBE stock traded up $0.63 on Friday, hitting $47.64. The stock had a trading volume of 1,357,144 shares, compared to its average volume of 1,079,267. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $10.72 billion, a P/E ratio of 26.47, a P/E/G ratio of 8.24 and a beta of 0.80. CubeSmart has a 1 year low of $33.17 and a 1 year high of $49.58. The company’s 50 day moving average price is $44.61 and its 200-day moving average price is $43.99.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.22). The firm had revenue of $261.41 million during the quarter, compared to analysts’ expectations of $253.91 million. CubeSmart had a net margin of 38.64% and a return on equity of 14.48%. CubeSmart’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.04 annualized dividend and a yield of 4.28%. CubeSmart’s dividend payout ratio (DPR) is 113.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday. Raymond James upped their price target on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. BMO Capital Markets lowered CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Finally, Evercore ISI upped their price target on CubeSmart from $44.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.36.

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.