Aberdeen Group plc Raises Holdings in CubeSmart $CUBE

Aberdeen Group plc boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,704 shares of the real estate investment trust’s stock after buying an additional 15,565 shares during the quarter. Aberdeen Group plc’s holdings in CubeSmart were worth $3,883,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC purchased a new position in CubeSmart during the third quarter valued at approximately $28,000. Private Trust Co. NA boosted its stake in CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 568 shares in the last quarter. Huntington National Bank boosted its stake in CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in CubeSmart in the third quarter valued at approximately $42,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CUBE shares. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Wednesday, March 18th. Scotiabank upgraded shares of CubeSmart to a “hold” rating in a research note on Thursday, March 19th. UBS Group lowered their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Truist Financial lowered their target price 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. Finally, Wells Fargo & Company lowered their target price on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.64.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction on 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 of the company’s stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.69% of the company’s stock.

CubeSmart Trading Up 3.3%

NYSE CUBE opened at $38.48 on Thursday. The company has a market capitalization of $8.74 billion, a PE ratio of 26.54 and a beta of 1.13. The company has a fifty day moving average of $38.49 and a 200 day moving average of $38.22. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s payout ratio is presently 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.