22,900 Shares in CubeSmart $CUBE Bought by Versor Investments LP

Versor Investments LP bought a new position in shares of CubeSmart (NYSE:CUBE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,900 shares of the real estate investment trust’s stock, valued at approximately $931,000.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after acquiring an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp increased its position in CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 6,412 shares during the period. Goldman Sachs Group Inc. raised its holdings in CubeSmart by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after purchasing an additional 19,476 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of CubeSmart in the 1st quarter worth approximately $270,000. Finally, IFP Advisors Inc boosted its stake in shares of CubeSmart by 737.2% in the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

NYSE CUBE opened at $38.53 on Wednesday. The company has a market cap of $8.79 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 11.69 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The firm’s 50-day simple moving average is $37.10 and its two-hundred day simple moving average is $38.70. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s payout ratio is currently 135.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CUBE. Truist Financial cut their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Barclays lowered their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Finally, Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.13.

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.