American Century Companies Inc. Acquires 59,990 Shares of CubeSmart $CUBE

American Century Companies Inc. grew its stake in shares of CubeSmart (NYSE:CUBE) by 9.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 723,754 shares of the real estate investment trust’s stock after purchasing an additional 59,990 shares during the period. American Century Companies Inc. owned about 0.32% of CubeSmart worth $29,428,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CUBE. Norges Bank bought a new stake in CubeSmart during the second quarter worth $458,008,000. Hazelview Securities Inc. bought a new position in CubeSmart in the 2nd quarter valued at $21,643,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in CubeSmart by 13,418.0% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 429,738 shares of the real estate investment trust’s stock valued at $18,264,000 after purchasing an additional 426,559 shares during the period. Engineers Gate Manager LP increased its position in shares of CubeSmart by 4,329.6% during the 2nd quarter. Engineers Gate Manager LP now owns 363,224 shares of the real estate investment trust’s stock valued at $15,437,000 after purchasing an additional 355,024 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of CubeSmart by 182.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 533,890 shares of the real estate investment trust’s stock valued at $22,690,000 after purchasing an additional 344,838 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Tuesday, January 20th. Wells Fargo & Company lowered their price objective on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada boosted their target price on shares of CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. UBS Group reduced their target price 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, Truist Financial decreased their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.07.

Insiders Place Their Bets

In other news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is owned by corporate insiders.

CubeSmart Stock Down 0.8%

CUBE stock opened at $40.20 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.47 and a current ratio of 0.04. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 12.52 and a beta of 1.10. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The stock has a fifty day moving average of $38.44 and a 200-day moving average of $38.73.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

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.