Cadence Bank Acquires New Position in CubeSmart $CUBE

Cadence Bank acquired a new stake in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, Holdings Channel reports. The fund acquired 112,150 shares of the real estate investment trust’s stock, valued at approximately $4,043,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of 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 valued at $217,162,000 after buying an additional 91,694 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of CubeSmart by 36.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after buying an additional 1,143,464 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of CubeSmart by 37.3% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock valued at $136,805,000 after buying an additional 914,884 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in shares of CubeSmart by 5.4% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,339,974 shares of the real estate investment trust’s stock valued at $95,143,000 after buying an additional 120,450 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of CubeSmart by 4.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock valued at $73,748,000 after buying an additional 75,855 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CUBE. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. UBS Group dropped their price target on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Scotiabank raised shares of CubeSmart to a “hold” rating in a research report on Thursday, March 19th. Barclays upped their price target 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, Deutsche Bank Aktiengesellschaft lowered shares of 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. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus price target of $43.57.

CubeSmart Price Performance

CubeSmart stock opened at $39.05 on Tuesday. CubeSmart has a 52-week low of $35.09 and a 52-week high of $44.13. The firm has a fifty day moving average of $38.77 and a 200-day moving average of $38.13. The firm has a market capitalization of $8.90 billion, a P/E ratio of 26.93 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. CubeSmart’s dividend payout ratio is presently 146.21%.

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction on 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. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.76% of the stock is owned by insiders.

CubeSmart 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.