Caprock Group LLC Purchases Shares of 43,114 CubeSmart $CUBE

Caprock Group LLC acquired a new stake in shares of CubeSmart (NYSE:CUBE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 43,114 shares of the real estate investment trust’s stock, valued at approximately $1,764,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in CubeSmart during the 2nd quarter valued at about $458,008,000. Invesco Ltd. increased its holdings in shares of CubeSmart by 0.8% during the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CubeSmart by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock valued at $137,171,000 after acquiring an additional 44,288 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CubeSmart by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,222,338 shares of the real estate investment trust’s stock worth $94,449,000 after acquiring an additional 12,513 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in CubeSmart by 1.6% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,219,524 shares of the real estate investment trust’s stock worth $94,330,000 after acquiring an additional 35,760 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 1.0%

Shares of NYSE CUBE opened at $38.92 on Friday. The company’s 50 day simple moving average is $37.21 and its 200 day simple moving average is $38.69. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The firm has a market capitalization of $8.88 billion, a P/E ratio of 24.95, a P/E/G ratio of 11.81 and a beta of 1.12.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Friday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is presently 135.90%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Mizuho decreased their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. UBS Group lowered their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.13.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.