Venturi Wealth Management LLC Buys 1,912 Shares of CubeSmart (NYSE:CUBE)

Venturi Wealth Management LLC grew its stake in shares of CubeSmart (NYSE:CUBE) by 1,195.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,072 shares of the real estate investment trust’s stock after buying an additional 1,912 shares during the quarter. Venturi Wealth Management LLC’s holdings in CubeSmart were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in CubeSmart by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock worth $247,295,000 after purchasing an additional 50,340 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CubeSmart by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after buying an additional 135,211 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of CubeSmart by 2.0% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust’s stock worth $118,487,000 after buying an additional 42,994 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after acquiring an additional 1,282,995 shares during the period. Finally, Wellington Management Group LLP increased its position in CubeSmart by 13.9% during the third quarter. Wellington Management Group LLP now owns 929,707 shares of the real estate investment trust’s stock valued at $50,046,000 after acquiring an additional 113,422 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Down 0.4 %

Shares of CUBE stock opened at $41.82 on Monday. The stock has a fifty day simple moving average of $42.01 and a two-hundred day simple moving average of $47.23. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The firm has a market capitalization of $9.46 billion, a PE ratio of 23.63, a PEG ratio of 11.58 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.97%. CubeSmart’s payout ratio is currently 117.51%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of CubeSmart from a “sell” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their target price for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Royal Bank of Canada dropped their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.18.

About CubeSmart

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.