WCM Investment Management LLC Acquires 918 Shares of CubeSmart (NYSE:CUBE)

WCM Investment Management LLC boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,100 shares of the real estate investment trust’s stock after purchasing an additional 918 shares during the quarter. WCM Investment Management LLC’s holdings in CubeSmart were worth $3,095,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CUBE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CubeSmart by 326.3% during 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 valued at $90,229,000 after buying an additional 1,282,995 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after acquiring an additional 624,661 shares during the last quarter. SG Americas Securities LLC lifted its stake in CubeSmart by 10,685.4% in the 4th quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock worth $20,936,000 after purchasing an additional 484,049 shares in the last quarter. Presima Securities ULC boosted its holdings in shares of CubeSmart by 4,092.4% during the 4th quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock valued at $19,042,000 after purchasing an additional 433,790 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of CubeSmart by 46.6% during the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock valued at $29,406,000 after purchasing an additional 173,683 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CUBE stock opened at $42.38 on Monday. The stock has a market cap of $9.58 billion, a PE ratio of 23.94, a P/E/G ratio of 11.67 and a beta of 0.87. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The company has a 50-day moving average price of $43.13 and a 200 day moving average price of $47.65. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s payout ratio is 117.51%.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and decreased their target price for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and lowered their target price for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada cut their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Barclays dropped their price objective on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $49.73.

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.