Presima Inc. Has $19.51 Million Stake in CubeSmart (CUBE)

Presima Inc. lowered its position in shares of CubeSmart (NYSE:CUBE) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 608,800 shares of the real estate investment trust’s stock after selling 207,000 shares during the period. CubeSmart comprises about 2.7% of Presima Inc.’s holdings, making the stock its 12th largest holding. Presima Inc. owned approximately 0.32% of CubeSmart worth $19,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in shares of CubeSmart in the fourth quarter worth about $29,000. We Are One Seven LLC purchased a new position in CubeSmart during the 4th quarter valued at about $50,000. Enlightenment Research LLC purchased a new position in CubeSmart during the 4th quarter valued at about $106,000. Oppenheimer Asset Management Inc. purchased a new position in CubeSmart during the 4th quarter valued at about $119,000. Finally, NumerixS Investment Technologies Inc increased its holdings in CubeSmart by 80.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 5,040 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 2,240 shares during the period.

CUBE stock opened at $32.48 on Friday. CubeSmart has a fifty-two week low of $27.19 and a fifty-two week high of $33.18. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.05. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 5.83 and a beta of 0.28.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. CubeSmart had a return on equity of 9.67% and a net margin of 28.02%. The firm had revenue of $152.85 million for the quarter, compared to the consensus estimate of $154.06 million. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that CubeSmart will post 1.67 EPS for the current 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 dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.94%. CubeSmart’s dividend payout ratio (DPR) is 78.05%.

In other news, VP Jeffrey P. Foster sold 5,958 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.55, for a total value of $193,932.90. Following the sale, the vice president now directly owns 124,739 shares of the company’s stock, valued at approximately $4,060,254.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy M. Martin sold 60,207 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.51, for a total value of $1,897,122.57. Following the completion of the sale, the chief financial officer now directly owns 242,443 shares in the company, valued at $7,639,378.93. The disclosure for this sale can be found here. Insiders have sold a total of 177,773 shares of company stock worth $5,657,530 in the last quarter. Company insiders own 1.04% of the company’s stock.

A number of brokerages recently issued reports on CUBE. Zacks Investment Research downgraded CubeSmart from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. ValuEngine downgraded CubeSmart from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. BMO Capital Markets restated a “hold” rating and set a $30.00 price target on shares of CubeSmart in a report on Sunday, February 24th. Finally, Raymond James upgraded CubeSmart from a “market perform” rating to an “outperform” rating in a report on Thursday, March 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CubeSmart currently has an average rating of “Hold” and an average target price of $32.03.

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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 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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