Ceredex Value Advisors LLC Purchases 54,900 Shares of CubeSmart $CUBE

Ceredex Value Advisors LLC raised its position in CubeSmart (NYSE:CUBE) by 27.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,850 shares of the real estate investment trust’s stock after acquiring an additional 54,900 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.11% of CubeSmart worth $10,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CUBE. Vestcor Inc raised its holdings in shares of CubeSmart by 281.8% in the 3rd quarter. Vestcor Inc now owns 54,642 shares of the real estate investment trust’s stock valued at $2,222,000 after purchasing an additional 40,331 shares during the period. Fieldview Capital Management LLC bought a new position in CubeSmart during the third quarter worth about $4,602,000. Swiss National Bank increased its position in CubeSmart by 1.1% during the third quarter. Swiss National Bank now owns 442,000 shares of the real estate investment trust’s stock worth $17,972,000 after buying an additional 4,600 shares during the last quarter. Schroder Investment Management Group acquired a new position in CubeSmart during the third quarter worth approximately $23,516,000. Finally, Inceptionr LLC bought a new stake in CubeSmart in the third quarter valued at approximately $610,000. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $39.95 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 27.55 and a beta of 1.10. The stock’s fifty day moving average price is $38.60 and its two-hundred day moving average price is $38.72. CubeSmart has a one year low of $34.24 and a one year high of $44.13.

CubeSmart Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

Insider Buying and Selling

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’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 sale, the insider owned 205,057 shares of the company’s stock, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CUBE shares. Royal Bank Of Canada raised their price objective on CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Wall Street Zen cut CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Wells Fargo & Company cut their price target on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Barclays lifted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Truist Financial decreased their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average target price of $44.07.

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.