CubeSmart Declares Quarterly Dividend of $0.53 (NYSE:CUBE)

CubeSmart (NYSE:CUBE) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 1st will be paid a dividend of 0.53 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, April 1st.

CubeSmart has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 16 years. CubeSmart has a payout ratio of 135.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CubeSmart to earn $2.69 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 78.8%.

CubeSmart Price Performance

Shares of NYSE:CUBE traded down $0.17 on Wednesday, hitting $39.80. The company’s stock had a trading volume of 734,075 shares, compared to its average volume of 2,335,697. The company has a market capitalization of $9.08 billion, a PE ratio of 25.51, a PEG ratio of 12.16 and a beta of 1.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The company has a 50-day simple moving average of $37.66 and a 200 day simple moving average of $38.65. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13.

Hedge Funds Weigh In On CubeSmart

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. lifted its holdings in shares of CubeSmart by 4.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock valued at $73,748,000 after buying an additional 75,855 shares during the period. Aew Capital Management L P lifted its holdings in CubeSmart by 164,585.0% during the second quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock valued at $27,996,000 after purchasing an additional 658,340 shares in the last quarter. Capital Fund Management S.A. bought a new position in CubeSmart in the 2nd quarter worth $1,583,000. Retirement Systems of Alabama grew its position in shares of CubeSmart by 5.4% during the third quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock worth $25,986,000 after purchasing an additional 32,697 shares in the last quarter. Finally, Davidson Investment Advisors raised its position in shares of CubeSmart by 29.3% during the third quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock valued at $18,705,000 after buying an additional 104,283 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

About CubeSmart

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.