CubeSmart (NYSE:CUBE) Position Trimmed by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in shares of CubeSmart (NYSE:CUBE) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,574,729 shares of the real estate investment trust’s stock after selling 61,602 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.14% of CubeSmart worth $110,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CUBE. Blue Trust Inc. boosted its stake in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 289 shares in the last quarter. Jones Financial Companies Lllp raised its position in CubeSmart by 134.1% in the fourth quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 389 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of CubeSmart by 310.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 559 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 351 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE CUBE opened at $42.03 on Friday. The company has a market capitalization of $9.58 billion, a P/E ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a fifty day moving average of $41.88 and a 200-day moving average of $45.78.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to analysts’ expectations of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. As a group, equities research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s payout ratio is 120.93%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research note on Friday, January 10th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company lowered their price objective on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average price target of $48.00.

About CubeSmart

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.