Greenleaf Trust Makes New $229,000 Investment in CubeSmart (NYSE:CUBE)

Greenleaf Trust acquired a new position in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 4,949 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other institutional investors have also recently bought and sold shares of CUBE. Deutsche Bank AG raised its holdings in CubeSmart by 1,915.7% during the third quarter. Deutsche Bank AG now owns 3,058,193 shares of the real estate investment trust’s stock worth $116,609,000 after buying an additional 2,906,478 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CubeSmart by 54.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,898,429 shares of the real estate investment trust’s stock valued at $148,647,000 after purchasing an additional 1,369,438 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of CubeSmart in the third quarter valued at about $33,972,000. Massachusetts Financial Services Co. MA raised its holdings in shares of CubeSmart by 92.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,841,190 shares of the real estate investment trust’s stock valued at $70,205,000 after purchasing an additional 886,616 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of CubeSmart by 29,910.3% in the third quarter. Lazard Asset Management LLC now owns 604,408 shares of the real estate investment trust’s stock valued at $23,044,000 after purchasing an additional 602,394 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CUBE shares. Wells Fargo & Company increased their target price on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CubeSmart in a report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective for the company. Evercore ISI raised their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, March 4th. Truist Financial raised their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Finally, Raymond James restated an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.33.

CubeSmart Price Performance

CUBE opened at $42.10 on Thursday. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 23.26 and a beta of 0.69. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $43.83 and a 200-day moving average price of $42.27. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.51 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.85%. CubeSmart’s payout ratio is 112.71%.

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, 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.