CubeSmart $CUBE Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of CubeSmart (NYSE:CUBE) by 3,255.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 739,382 shares of the real estate investment trust’s stock after buying an additional 717,350 shares during the period. SG Americas Securities LLC owned about 0.32% of CubeSmart worth $26,655,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of CubeSmart in the 2nd quarter valued at approximately $458,008,000. JPMorgan Chase & Co. lifted its stake in CubeSmart by 1.7% during 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 purchasing an additional 91,694 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in CubeSmart by 36.4% in the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock worth $174,185,000 after purchasing an additional 1,143,464 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings 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 purchasing an additional 914,884 shares during the period. Finally, Invesco Ltd. increased its stake in CubeSmart by 0.8% during the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock valued at $137,678,000 after purchasing an additional 25,994 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

CUBE stock opened at $36.19 on Friday. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 24.96 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s fifty day moving average is $38.77 and its two-hundred day moving average is $38.49.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s payout ratio is presently 146.21%.

Analyst Ratings Changes

A number of brokerages have weighed in on CUBE. BNP Paribas Exane raised shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Wednesday, March 18th. Barclays boosted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Wells Fargo & Company dropped their price objective on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Wolfe Research cut 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 Sunday, March 1st. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.64.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.69% of the stock is owned by insiders.

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.