CubeSmart (NYSE:CUBE) Shares Bought by Oak Thistle LLC

Oak Thistle LLC boosted its position in CubeSmart (NYSE:CUBEFree Report) by 32.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,626 shares of the real estate investment trust’s stock after buying an additional 5,725 shares during the quarter. Oak Thistle LLC’s holdings in CubeSmart were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CubeSmart by 461.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,244 shares of the real estate investment trust’s stock valued at $1,053,000 after buying an additional 16,636 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in CubeSmart during the first quarter valued at about $227,000. Great West Life Assurance Co. Can boosted its holdings in shares of CubeSmart by 6.1% in the first quarter. Great West Life Assurance Co. Can now owns 191,579 shares of the real estate investment trust’s stock worth $10,354,000 after buying an additional 10,933 shares during the period. Yousif Capital Management LLC lifted its position in shares of CubeSmart by 7.3% in the 1st quarter. Yousif Capital Management LLC now owns 11,869 shares of the real estate investment trust’s stock valued at $618,000 after acquiring an additional 810 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in CubeSmart by 63.5% during the 1st quarter. Allianz Asset Management GmbH now owns 536,244 shares of the real estate investment trust’s stock worth $27,901,000 after purchasing an additional 208,256 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CUBE shares. Jefferies Financial Group raised CubeSmart from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $53.00 in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of CubeSmart in a research note on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price target on the stock. Wells Fargo & Company raised their target price on CubeSmart from $37.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, December 12th. BMO Capital Markets raised CubeSmart from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $46.00 to $49.00 in a research report on Friday, December 15th. Finally, Barclays initiated coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average price target of $46.00.

Get Our Latest Research Report on CUBE

CubeSmart Stock Performance

Shares of NYSE CUBE traded down $0.65 during midday trading on Tuesday, hitting $44.38. 601,834 shares of the company’s stock were exchanged, compared to its average volume of 1,519,896. CubeSmart has a 12 month low of $33.17 and a 12 month high of $48.93. The company’s 50 day moving average price is $43.97 and its 200 day moving average price is $41.70. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $9.98 billion, a PE ratio of 24.86 and a beta of 0.69.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Thursday, March 28th. CubeSmart’s payout ratio is presently 112.71%.

CubeSmart Profile

(Free Report)

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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