Vanguard Group Inc. Buys 59,148 Shares of CubeSmart $CUBE

Vanguard Group Inc. increased its stake in CubeSmart (NYSE:CUBE) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,285,353 shares of the real estate investment trust’s stock after buying an additional 59,148 shares during the quarter. Vanguard Group Inc. owned approximately 13.72% of CubeSmart worth $1,272,062,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in CubeSmart by 1.3% in the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after acquiring an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in CubeSmart by 944.3% in 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 last quarter. Goldman Sachs Group Inc. grew its holdings in CubeSmart by 4.2% during the first 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 period. Caxton Associates LLP bought a new position in CubeSmart during the first quarter worth about $270,000. Finally, CWM LLC increased its position in CubeSmart by 141.9% during the second quarter. CWM LLC now owns 4,718 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 2,768 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CUBE. Barclays cut their price objective on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Wall Street Zen raised CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Tuesday, January 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Finally, UBS Group reduced their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.13.

CubeSmart Trading Up 4.3%

Shares of NYSE:CUBE opened at $40.31 on Friday. The business’s 50 day simple moving average is $37.51 and its 200 day simple moving average is $38.65. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $9.19 billion, a P/E ratio of 25.84, a P/E/G ratio of 11.85 and a beta of 1.12.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s payout ratio is presently 135.90%.

About CubeSmart

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.