Twin Capital Management Inc. bought a new stake in shares of CubeSmart (NYSE:CUBE – Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 16,587 shares of the real estate investment trust’s stock, valued at approximately $608,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of CubeSmart in the first quarter valued at approximately $277,000. State of Michigan Retirement System raised its position in shares of CubeSmart by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 54,900 shares of the real estate investment trust’s stock worth $2,012,000 after purchasing an additional 1,000 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of CubeSmart by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 508,977 shares of the real estate investment trust’s stock worth $18,654,000 after purchasing an additional 18,475 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in CubeSmart by 174.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 18,415 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 11,704 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in CubeSmart by 21.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 160,057 shares of the real estate investment trust’s stock valued at $5,866,000 after buying an additional 28,735 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.
CubeSmart Trading Up 3.9%
Shares of CUBE opened at $42.02 on Friday. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week high of $42.64. The company has a market capitalization of $9.51 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 6.99 and a beta of 1.08. The stock has a fifty day moving average of $40.37 and a two-hundred day moving average of $39.13. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.04 and a current ratio of 0.04.
CubeSmart Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, July 1st. CubeSmart’s dividend payout ratio (DPR) is presently 149.30%.
Wall Street Analysts Forecast Growth
CUBE has been the subject of several recent research reports. Mizuho raised their price target on CubeSmart from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Evercore set a $47.00 price objective on CubeSmart in a research note on Monday, July 6th. Scotiabank upgraded CubeSmart to a “hold” rating in a research report on Thursday, March 19th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of CubeSmart in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus price target of $43.25.
Get Our Latest Stock Report on CubeSmart
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.
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