Keybank National Association OH Reduces Stock Position in CubeSmart $CUBE

Keybank National Association OH lowered its stake in CubeSmart (NYSE:CUBE) by 47.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,463 shares of the real estate investment trust’s stock after selling 60,268 shares during the quarter. Keybank National Association OH’s holdings in CubeSmart were worth $2,662,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Aew Capital Management L P grew its holdings in CubeSmart by 164,585.0% during the second quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock worth $27,996,000 after acquiring an additional 658,340 shares during the period. Capital Fund Management S.A. purchased a new position in CubeSmart in the 2nd quarter valued at about $1,583,000. Davidson Investment Advisors lifted its position in shares of CubeSmart by 29.3% in the third quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust’s stock valued at $18,705,000 after acquiring an additional 104,283 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of CubeSmart by 5.4% in the third quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock valued at $25,986,000 after buying an additional 32,697 shares during the last quarter. Finally, Gries Financial LLC purchased a new position in shares of CubeSmart during the 3rd quarter worth $1,260,000. 97.61% of the stock is owned by institutional investors.

CubeSmart Price Performance

Shares of CUBE opened at $37.07 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The company has a market cap of $8.45 billion, a P/E ratio of 23.76, a PEG ratio of 8.25 and a beta of 1.11. The firm’s 50 day moving average price is $36.95 and its 200 day moving average price is $38.83.

CubeSmart Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is 135.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CUBE shares. Truist Financial decreased their price objective on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Barclays lowered their target price on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Evercore ISI dropped their target price on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average price target of $44.40.

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.