Cbre Investment Management Listed Real Assets LLC Purchases 914,884 Shares of CubeSmart $CUBE

Cbre Investment Management Listed Real Assets LLC grew its position in CubeSmart (NYSE:CUBE) by 37.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,364,619 shares of the real estate investment trust’s stock after purchasing an additional 914,884 shares during the period. CubeSmart comprises about 2.0% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 16th largest holding. Cbre Investment Management Listed Real Assets LLC’s holdings in CubeSmart were worth $136,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in CUBE. Norges Bank bought a new stake in CubeSmart in the 2nd quarter worth about $458,008,000. JPMorgan Chase & Co. lifted its position in shares of CubeSmart by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after buying an additional 91,694 shares in the last quarter. Invesco Ltd. lifted its position in shares of CubeSmart by 0.8% during the 2nd quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CubeSmart by 1.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock worth $137,171,000 after buying an additional 44,288 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of CubeSmart by 5.4% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,339,974 shares of the real estate investment trust’s stock worth $95,143,000 after buying an additional 120,450 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on CUBE shares. Mizuho decreased their price target on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. UBS Group cut their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Tuesday, January 20th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada boosted their price target on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.07.

Insider Activity at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.69% of the stock is owned by corporate insiders.

CubeSmart Price Performance

CubeSmart stock opened at $38.72 on Thursday. The business’s 50 day simple moving average is $38.65 and its 200 day simple moving average is $38.72. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 26.71 and a beta of 1.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio is currently 146.21%.

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.