Unigestion Holding SA Lowers Stock Position in CubeSmart (NYSE:CUBE)

Unigestion Holding SA reduced its stake in shares of CubeSmart (NYSE:CUBE) by 30.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,594 shares of the real estate investment trust’s stock after selling 11,376 shares during the period. Unigestion Holding SA’s holdings in CubeSmart were worth $968,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. PGGM Investments lifted its holdings in CubeSmart by 50.1% in the 4th quarter. PGGM Investments now owns 11,029,440 shares of the real estate investment trust’s stock worth $370,699,000 after purchasing an additional 3,680,524 shares in the last quarter. Norges Bank purchased a new position in CubeSmart in the 4th quarter worth approximately $63,712,000. BlackRock Inc. lifted its holdings in CubeSmart by 10.9% in the 4th quarter. BlackRock Inc. now owns 15,404,388 shares of the real estate investment trust’s stock worth $517,742,000 after purchasing an additional 1,509,918 shares in the last quarter. Resolution Capital Ltd lifted its holdings in CubeSmart by 17.5% in the 4th quarter. Resolution Capital Ltd now owns 7,109,559 shares of the real estate investment trust’s stock worth $238,952,000 after purchasing an additional 1,061,317 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in CubeSmart by 31.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,402,472 shares of the real estate investment trust’s stock worth $80,747,000 after purchasing an additional 568,122 shares in the last quarter. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

In other CubeSmart news, CEO Christopher P. Marr sold 10,000 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the chief executive officer now directly owns 475,314 shares in the company, valued at approximately $17,824,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher P. Marr sold 6,769 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $42.37, for a total value of $286,802.53. Following the completion of the sale, the chief executive officer now owns 472,083 shares of the company’s stock, valued at $20,002,156.71. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $2,268,265 in the last ninety days. 1.11% of the stock is currently owned by corporate insiders.

CUBE has been the topic of a number of research reports. Truist Securities lifted their price objective on CubeSmart from $37.00 to $39.00 in a research note on Tuesday, March 16th. Wells Fargo & Company lifted their price objective on CubeSmart from $25.00 to $34.00 and gave the stock an “underweight” rating in a research note on Monday, April 26th. Zacks Investment Research downgraded CubeSmart from a “buy” rating to a “hold” rating in a research note on Monday, February 8th. Raymond James downgraded CubeSmart from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 4th. Finally, BMO Capital Markets raised CubeSmart from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $45.00 to $47.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.60.

NYSE CUBE opened at $42.41 on Tuesday. The company has a market cap of $8.55 billion, a P/E ratio of 49.31, a P/E/G ratio of 8.51 and a beta of 0.27. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.04 and a current ratio of 0.04. The business’s 50 day moving average price is $40.77 and its 200-day moving average price is $36.20. CubeSmart has a fifty-two week low of $24.10 and a fifty-two week high of $43.11.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.24). CubeSmart had a net margin of 24.83% and a return on equity of 9.30%. As a group, equities analysts predict that CubeSmart will post 1.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, June 30th. CubeSmart’s dividend payout ratio (DPR) is presently 80.47%.

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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Featured Story: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBE).

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.