Metis Global Partners LLC Boosts Stock Position in CubeSmart $CUBE

Metis Global Partners LLC grew its position in CubeSmart (NYSE:CUBE) by 36.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,384 shares of the real estate investment trust’s stock after purchasing an additional 13,624 shares during the period. Metis Global Partners LLC’s holdings in CubeSmart were worth $2,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its stake in shares of CubeSmart by 4.4% in the 3rd 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 purchasing an additional 75,855 shares during the period. Aew Capital Management L P grew its position 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 valued at $27,996,000 after buying an additional 658,340 shares during the period. Capital Fund Management S.A. purchased a new position in CubeSmart in the second quarter valued at $1,583,000. Davidson Investment Advisors raised 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 worth $18,705,000 after acquiring an additional 104,283 shares during the period. Finally, Pacific Heights Asset Management LLC acquired a new position in shares of CubeSmart in the third quarter worth about $12,198,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

CubeSmart stock opened at $38.92 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average price of $37.21 and a 200 day moving average price of $38.67. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The stock has a market cap of $8.88 billion, a P/E ratio of 24.95, a PEG ratio of 11.93 and a beta of 1.12.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.53 dividend. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Friday, January 2nd. CubeSmart’s payout ratio is currently 135.90%.

Analysts Set New Price Targets

CUBE has been the subject of several recent analyst reports. Evercore cut their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. 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. Finally, Wells Fargo & Company decreased their target price on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.13.

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.