Algert Global LLC Purchases 321,243 Shares of CubeSmart $CUBE

Algert Global LLC lifted its holdings in CubeSmart (NYSE:CUBE) by 182.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 497,036 shares of the real estate investment trust’s stock after purchasing an additional 321,243 shares during the period. Algert Global LLC owned 0.22% of CubeSmart worth $20,209,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of CubeSmart by 1.3% in the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after acquiring an additional 2,284 shares during the period. Jones Financial Companies Lllp increased its position in shares of CubeSmart by 944.3% during the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 6,412 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of CubeSmart by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after purchasing an additional 19,476 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of CubeSmart in the first quarter valued at $270,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in CubeSmart in the second quarter worth $987,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

CUBE has been the topic of several recent research reports. Scotiabank lifted their target price on shares of CubeSmart from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday. Truist Financial dropped their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Wells Fargo & Company decreased their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Barclays upped their price objective on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada increased their target price on CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus target price of $43.86.

CubeSmart Price Performance

Shares of CUBE stock opened at $38.63 on Friday. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 26.64 and a beta of 1.10. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $38.76 and a 200 day moving average price of $38.69.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 5.5%. CubeSmart’s payout ratio is 146.21%.

Insider Activity at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.69% of the stock is currently owned by corporate insiders.

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.