60,983 Shares in CubeSmart (NYSE:CUBE) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in shares of CubeSmart (NYSE:CUBE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 60,983 shares of the real estate investment trust’s stock, valued at approximately $2,827,000.

A number of other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp boosted its position in CubeSmart by 1.0% during the 3rd quarter. M&T Bank Corp now owns 25,747 shares of the real estate investment trust’s stock worth $1,030,000 after acquiring an additional 257 shares during the period. Gries Financial LLC boosted its position in CubeSmart by 0.6% during the 2nd quarter. Gries Financial LLC now owns 43,588 shares of the real estate investment trust’s stock worth $1,947,000 after acquiring an additional 278 shares during the period. Toronto Dominion Bank boosted its position in CubeSmart by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 24,631 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 281 shares during the period. Cooper Financial Group boosted its position in CubeSmart by 3.2% during the 3rd quarter. Cooper Financial Group now owns 9,221 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 284 shares during the period. Finally, Vident Investment Advisory LLC boosted its position in CubeSmart by 3.7% during the 4th quarter. Vident Investment Advisory LLC now owns 8,209 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 294 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Stock Down 0.8 %

CUBE opened at $41.86 on Friday. The business has a 50 day moving average price of $43.92 and a 200 day moving average price of $42.09. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $9.42 billion, a P/E ratio of 23.13 and a beta of 0.69.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.51 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a yield of 4.87%. CubeSmart’s dividend payout ratio (DPR) is currently 112.71%.

Analyst Ratings Changes

A number of brokerages have commented on CUBE. Truist Financial raised their price objective on CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Evercore ISI lifted their price target on CubeSmart from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, March 4th. Wells Fargo & Company lifted their price target on CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Raymond James reiterated an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a report on Thursday, March 28th. Finally, Jefferies Financial Group upgraded CubeSmart from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $53.00 in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.33.

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.