Schroder Investment Management Group Buys Shares of 579,208 CubeSmart $CUBE

Schroder Investment Management Group purchased a new position in CubeSmart (NYSE:CUBE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 579,208 shares of the real estate investment trust’s stock, valued at approximately $23,516,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Private Trust Co. NA grew its position in shares of CubeSmart by 209.6% during the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 478 shares during the period. Geneos Wealth Management Inc. raised its holdings in CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares during the period. Huntington National Bank lifted its position in CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 295 shares in the last quarter. SJS Investment Consulting Inc. purchased a new position in CubeSmart during the third quarter valued at $42,000. Finally, Avalon Trust Co bought a new stake in CubeSmart during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $38.16 on Friday. The company has a market cap of $8.66 billion, a P/E ratio of 26.31 and a beta of 1.10. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. 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 firm’s fifty day moving average is $38.69 and its two-hundred day moving average is $38.71.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s payout ratio is 146.21%.

Insider Activity at CubeSmart

In related 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 sale, the insider directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CUBE. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Tuesday, January 20th. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Mizuho cut their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Royal Bank Of Canada increased their target price on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, Wolfe Research cut shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.07.

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.