Dupont Capital Management Corp Makes New $215,000 Investment in CubeSmart (NYSE:CUBE)

Dupont Capital Management Corp bought a new position in shares of CubeSmart (NYSE:CUBE – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,365 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors bought a new position in shares of CubeSmart in the first quarter valued at approximately $137,023,000. Principal Financial Group Inc. boosted its position in shares of CubeSmart by 21.3% in the second quarter. Principal Financial Group Inc. now owns 12,349,163 shares of the real estate investment trust’s stock valued at $527,558,000 after acquiring an additional 2,167,266 shares during the period. Aew Capital Management L P bought a new position in shares of CubeSmart in the second quarter valued at approximately $74,934,000. Goldman Sachs Group Inc. boosted its position in shares of CubeSmart by 96.6% in the second quarter. Goldman Sachs Group Inc. now owns 3,484,402 shares of the real estate investment trust’s stock valued at $148,854,000 after acquiring an additional 1,711,731 shares during the period. Finally, Vanguard Group Inc. raised its stake in CubeSmart by 4.9% in the first quarter. Vanguard Group Inc. now owns 32,178,558 shares of the real estate investment trust’s stock valued at $1,674,250,000 after purchasing an additional 1,515,436 shares in the last quarter. Institutional investors own 93.62% of the company’s stock.

CubeSmart Stock Down 1.7 %

Shares of CubeSmart stock opened at $41.72 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 52-week low of $36.82 and a 52-week high of $54.95. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 36.60, a P/E/G ratio of 1.85 and a beta of 0.52. The company’s 50 day moving average price is $40.81 and its 200-day moving average price is $42.51.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be issued a $0.49 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 30th. This represents a $1.96 annualized dividend and a dividend yield of 4.70%. CubeSmart’s dividend payout ratio (DPR) is currently 171.93%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CUBE shares. UBS Group started coverage on shares of CubeSmart in a research note on Monday, October 17th. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $41.00 in a research note on Monday, January 2nd. StockNews.com initiated coverage on shares of CubeSmart in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James decreased their price target on shares of CubeSmart from $58.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Monday, January 9th. Finally, Truist Financial decreased their price target on shares of CubeSmart from $53.00 to $46.00 in a research note on Monday, December 5th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CubeSmart currently has an average rating of “Moderate Buy” and a consensus price target of $48.50.

CubeSmart Profile

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CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.