Allianz Asset Management GmbH Sells 190,836 Shares of CubeSmart $CUBE

Allianz Asset Management GmbH lowered its holdings in CubeSmart (NYSE:CUBE) by 83.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,259 shares of the real estate investment trust’s stock after selling 190,836 shares during the period. Allianz Asset Management GmbH’s holdings in CubeSmart were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. True Wealth Design LLC boosted its stake in shares of CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 524 shares during the last quarter. Private Trust Co. NA increased its position in shares of 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 during the last quarter. Geneos Wealth Management Inc. raised its holdings in CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 568 shares in the last quarter. SJS Investment Consulting Inc. bought a new stake in CubeSmart during the third quarter worth about $42,000. Finally, Hantz Financial Services Inc. boosted its position in CubeSmart by 1,776.1% during the second quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,563 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Tuesday, January 20th. UBS Group cut their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Barclays lowered their target price on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Wells Fargo & Company dropped their price target 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. Finally, Truist Financial cut 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 given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.13.

CubeSmart Stock Down 0.1%

CUBE stock opened at $38.58 on Friday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 11.83 and a beta of 1.12. The business’s fifty day moving average price is $37.17 and its two-hundred day moving average price is $38.70.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a $0.53 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, January 2nd. This represents a $2.12 annualized dividend and a yield of 5.5%. CubeSmart’s dividend payout ratio is presently 135.90%.

About CubeSmart

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.