Prudential Financial Inc. Sells 700 Shares of CubeSmart (CUBE)

Prudential Financial Inc. reduced its position in shares of CubeSmart (NYSE:CUBE) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,125 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. Prudential Financial Inc.’s holdings in CubeSmart were worth $319,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CUBE. Vanguard Group Inc. raised its position in shares of CubeSmart by 2.2% during the third quarter. Vanguard Group Inc. now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after buying an additional 603,875 shares during the last quarter. Vanguard Group Inc raised its position in shares of CubeSmart by 2.2% during the third quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock valued at $806,910,000 after buying an additional 603,875 shares during the last quarter. BlackRock Inc. raised its position in shares of CubeSmart by 2.0% during the third quarter. BlackRock Inc. now owns 13,896,899 shares of the real estate investment trust’s stock valued at $396,479,000 after buying an additional 267,274 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of CubeSmart by 77.5% during the third quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock valued at $111,561,000 after buying an additional 1,707,863 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CubeSmart by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,816,976 shares of the real estate investment trust’s stock worth $80,367,000 after purchasing an additional 9,755 shares during the last quarter.

In other news, CEO Christopher P. Marr sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $31.51, for a total transaction of $1,890,600.00. Following the transaction, the chief executive officer now owns 444,877 shares in the company, valued at $14,018,074.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy M. Martin sold 60,207 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.51, for a total transaction of $1,897,122.57. Following the transaction, the chief financial officer now owns 242,443 shares in the company, valued at approximately $7,639,378.93. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

NYSE:CUBE traded up $0.38 during mid-day trading on Friday, reaching $31.18. The company’s stock had a trading volume of 1,426,581 shares, compared to its average volume of 1,267,010. The firm has a market cap of $5.85 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 5.61 and a beta of 0.29. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a 1 year low of $27.19 and a 1 year high of $33.18.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, February 21st. The real estate investment trust reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. The business had revenue of $134.74 million during the quarter, compared to the consensus estimate of $154.27 million. CubeSmart had a net margin of 28.32% and a return on equity of 9.74%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. Sell-side analysts anticipate that CubeSmart will post 1.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.32 dividend. The ex-dividend date was Friday, March 29th. This represents a $1.28 dividend on an annualized basis and a yield of 4.11%. CubeSmart’s dividend payout ratio is presently 78.05%.

Several equities research analysts recently weighed in on CUBE shares. BMO Capital Markets restated a “hold” rating and issued a $30.00 price target on shares of CubeSmart in a research report on Sunday, February 24th. Raymond James upgraded shares of CubeSmart from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 21st. Zacks Investment Research cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Finally, ValuEngine cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.03.

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CubeSmart 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 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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