Northern Trust Corp Acquires 113,864 Shares of CubeSmart (CUBE)

Northern Trust Corp increased its holdings in shares of CubeSmart (NYSE:CUBE) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,747,835 shares of the real estate investment trust’s stock after purchasing an additional 113,864 shares during the period. Northern Trust Corp owned 0.97% of CubeSmart worth $42,018,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in CubeSmart by 5.4% during the 2nd quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock worth $307,242,000 after purchasing an additional 650,691 shares during the period. Bank of New York Mellon Corp boosted its stake in CubeSmart by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after purchasing an additional 1,335,665 shares during the period. Lasalle Investment Management Securities LLC boosted its stake in CubeSmart by 5.9% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 10,264,646 shares of the real estate investment trust’s stock worth $246,762,000 after purchasing an additional 569,240 shares during the period. State Street Corp boosted its stake in CubeSmart by 1.9% during the 1st quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock worth $144,956,000 after purchasing an additional 101,843 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in CubeSmart by 36.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,702,262 shares of the real estate investment trust’s stock worth $89,002,000 after purchasing an additional 980,490 shares during the period.

Shares of CubeSmart (CUBE) opened at 25.98 on Wednesday. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.06. The firm has a market cap of $4.68 billion, a PE ratio of 44.87 and a beta of 0.19. The stock has a 50 day moving average of $25.68 and a 200 day moving average of $25.12.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that CubeSmart will post $0.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.16%. CubeSmart’s dividend payout ratio is currently 186.21%.

WARNING: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/northern-trust-corp-acquires-113864-shares-of-cubesmart-cube.html.

A number of brokerages recently weighed in on CUBE. BidaskClub upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Evercore ISI reiterated an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of CubeSmart in a research note on Thursday, September 14th. BMO Capital Markets reiterated a “market perform” rating and set a $27.00 price target on shares of CubeSmart in a research note on Monday, September 11th. Raymond James Financial, Inc. cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, UBS AG cut shares of CubeSmart fr

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in CubeSmart by 5.4% during the 2nd quarter. BlackRock Inc. now owns 12,780,418 shares of the real estate investment trust’s stock worth $307,242,000 after purchasing an additional 650,691 shares during the period. Bank of New York Mellon Corp boosted its stake in CubeSmart by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,672,676 shares of the real estate investment trust’s stock worth $280,612,000 after purchasing an additional 1,335,665 shares during the period. Lasalle Investment Management Securities LLC boosted its stake in CubeSmart by 5.9% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 10,264,646 shares of the real estate investment trust’s stock worth $246,762,000 after purchasing an additional 569,240 shares during the period. State Street Corp boosted its stake in CubeSmart by 1.9% during the 1st quarter. State Street Corp now owns 5,583,913 shares of the real estate investment trust’s stock worth $144,956,000 after purchasing an additional 101,843 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in CubeSmart by 36.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,702,262 shares of the real estate investment trust’s stock worth $89,002,000 after purchasing an additional 980,490 shares during the period.

Shares of CubeSmart (CUBE) opened at 25.98 on Wednesday. CubeSmart has a 1-year low of $22.83 and a 1-year high of $28.06. The firm has a market cap of $4.68 billion, a PE ratio of 44.87 and a beta of 0.19. The stock has a 50 day moving average of $25.68 and a 200 day moving average of $25.12.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $138.60 million during the quarter, compared to analyst estimates of $138.07 million. CubeSmart had a net margin of 20.36% and a return on equity of 6.65%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that CubeSmart will post $0.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.08 annualized dividend and a dividend yield of 4.16%. CubeSmart’s dividend payout ratio is currently 186.21%.

WARNING: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/northern-trust-corp-acquires-113864-shares-of-cubesmart-cube.html.

A number of brokerages recently weighed in on CUBE. BidaskClub upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Evercore ISI reiterated an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of CubeSmart in a research note on Thursday, September 14th. BMO Capital Markets reiterated a “market perform” rating and set a $27.00 price target on shares of CubeSmart in a research note on Monday, September 11th. Raymond James Financial, Inc. cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, UBS AG cut shares of CubeSmart from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.29.

About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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