Lighthouse Investment Partners LLC Reduces Stock Holdings in CubeSmart $CUBE

Lighthouse Investment Partners LLC lowered its holdings in shares of CubeSmart (NYSE:CUBE) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 171,000 shares of the real estate investment trust’s stock after selling 43,200 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.07% of CubeSmart worth $6,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in CubeSmart during the second quarter valued at approximately $458,008,000. JPMorgan Chase & Co. raised its position in CubeSmart by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after acquiring an additional 91,694 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in CubeSmart by 37.3% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock worth $136,805,000 after acquiring an additional 914,884 shares during the period. Invesco Ltd. boosted its stake in shares of CubeSmart by 0.8% during the 2nd quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after acquiring an additional 25,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CubeSmart by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock worth $137,171,000 after acquiring an additional 44,288 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the subject of several analyst reports. Barclays upped their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Mizuho lowered their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Truist Financial cut their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.86.

Insider Buying and Selling

In other news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction dated 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 in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.69% of the stock is currently owned by corporate insiders.

CubeSmart Stock Up 0.5%

Shares of CUBE stock opened at $38.84 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a one year low of $34.24 and a one year high of $44.13. The company’s fifty day moving average price is $38.82 and its 200-day moving average price is $38.66. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 26.79 and a beta of 1.10.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

CubeSmart Company 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.