Robeco Institutional Asset Management B.V. Boosts Stake in CubeSmart $CUBE

Robeco Institutional Asset Management B.V. boosted its stake in CubeSmart (NYSE:CUBE) by 8.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,500 shares of the real estate investment trust’s stock after buying an additional 20,000 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in CubeSmart were worth $9,103,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wiser Advisor Group LLC purchased a new stake in shares of CubeSmart during the third quarter worth about $28,000. Private Trust Co. NA grew its holdings in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 478 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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 buying an additional 568 shares in the last quarter. Huntington National Bank grew its holdings in shares of CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of CubeSmart during the third quarter worth about $42,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Down 1.7%

Shares of CUBE opened at $38.94 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $8.88 billion, a P/E ratio of 26.85 and a beta of 1.13. The stock’s fifty day simple moving average is $38.62 and its 200 day simple moving average is $38.19. CubeSmart has a twelve month low of $35.09 and a twelve month high of $44.13.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is 146.21%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CUBE shares. Scotiabank upgraded shares of CubeSmart to a “hold” rating in a report on Thursday, March 19th. BNP Paribas Exane raised CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Wednesday, March 18th. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Barclays increased their price target on CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Finally, Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.64.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.69% of the company’s stock.

CubeSmart 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.