Presima Securities ULC Reduces Stake in CubeSmart $CUBE

Presima Securities ULC lessened its stake in shares of CubeSmart (NYSE:CUBE) by 19.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 393,946 shares of the real estate investment trust’s stock after selling 94,047 shares during the quarter. CubeSmart comprises about 4.4% of Presima Securities ULC’s portfolio, making the stock its 10th largest holding. Presima Securities ULC owned approximately 0.17% of CubeSmart worth $16,018,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its position in CubeSmart by 1.3% during the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock worth $7,429,000 after acquiring an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after purchasing an additional 19,476 shares during the period. Caxton Associates LLP acquired a new position in CubeSmart in the 1st quarter valued at $270,000. Finally, CWM LLC increased its position in CubeSmart by 141.9% during the 2nd quarter. CWM LLC now owns 4,718 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 2,768 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CUBE shares. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Tuesday, January 20th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Wells Fargo & Company decreased their target price on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Truist Financial dropped their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.13.

CubeSmart Stock Performance

NYSE CUBE opened at $38.74 on Thursday. 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 firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 11.91 and a beta of 1.12. The firm’s 50 day simple moving average is $37.39 and its 200 day simple moving average is $38.65. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.53 per share. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.5%. CubeSmart’s payout ratio is presently 135.90%.

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.