Cornerstone Capital Management Holdings LLC. Boosts Stake in CubeSmart (CUBE)

Cornerstone Capital Management Holdings LLC. lifted its position in CubeSmart (NYSE:CUBE) by 23.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 108,395 shares of the real estate investment trust’s stock after buying an additional 20,756 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in CubeSmart were worth $3,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American International Group Inc. acquired a new position in shares of CubeSmart in the 4th quarter worth $119,000. The Manufacturers Life Insurance Company grew its holdings in shares of CubeSmart by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 370 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of CubeSmart in the 3rd quarter worth $211,000. Comerica Bank acquired a new position in shares of CubeSmart in the 3rd quarter worth $220,000. Finally, Shelton Capital Management acquired a new position in shares of CubeSmart in the 4th quarter worth $249,000.

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CubeSmart (NYSE CUBE) opened at $27.12 on Monday. CubeSmart has a twelve month low of $22.83 and a twelve month high of $29.79. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $4,943.38, a price-to-earnings ratio of 36.16, a PEG ratio of 3.46 and a beta of 0.17.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. CubeSmart had a return on equity of 8.39% and a net margin of 24.02%. The business had revenue of $143.48 million for the quarter, compared to the consensus estimate of $143.18 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. CubeSmart’s revenue for the quarter was up 8.3% compared to the same quarter last year. analysts expect that CubeSmart will post 1.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. CubeSmart’s dividend payout ratio is 160.00%.

A number of equities analysts recently issued reports on CUBE shares. B. Riley set a $32.00 target price on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, December 18th. Jefferies Group set a $33.00 target price on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, November 28th. Cantor Fitzgerald restated a “buy” rating and issued a $31.00 target price on shares of CubeSmart in a report on Thursday, February 15th. Finally, SunTrust Banks set a $31.00 target price on CubeSmart and gave the stock a “hold” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. CubeSmart has a consensus rating of “Hold” and a consensus target price of $30.00.

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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 2018 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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