Barrow Hanley Mewhinney & Strauss LLC Cuts Stake in CubeSmart (NYSE:CUBE)

Barrow Hanley Mewhinney & Strauss LLC decreased its position in CubeSmart (NYSE:CUBE) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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’s holdings in CubeSmart were worth $110,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 289 shares during the period. 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 acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares during the period. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 351 shares during the period. Finally, Huntington National Bank boosted its position in shares of CubeSmart by 307.0% during the 4th quarter. Huntington National Bank now owns 1,213 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 915 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Price Performance

CubeSmart stock opened at $41.26 on Friday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a 50 day moving average price of $40.69 and a 200 day moving average price of $42.83. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 11.58 and a beta of 1.00.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $273.04 million during the quarter, compared to analysts’ expectations of $268.16 million. During the same period in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, July 1st. CubeSmart’s dividend payout ratio is currently 123.08%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CUBE shares. Scotiabank increased their price target on shares of CubeSmart from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Barclays decreased their target price on CubeSmart from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company dropped their price target on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Finally, Evercore ISI boosted their price objective on shares of CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.07.

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.