CubeSmart $CUBE Shares Bought by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lifted its position in shares of CubeSmart (NYSE:CUBE) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,339,974 shares of the real estate investment trust’s stock after acquiring an additional 120,450 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in CubeSmart were worth $95,143,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in CubeSmart by 1.3% in the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after purchasing an additional 2,284 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 944.3% in the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in CubeSmart by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after acquiring an additional 19,476 shares during the period. Caxton Associates LLP purchased a new position in CubeSmart in the first quarter worth $270,000. Finally, Bank of Montreal Can lifted its holdings in CubeSmart by 2.5% in the second quarter. Bank of Montreal Can now owns 61,236 shares of the real estate investment trust’s stock valued at $2,603,000 after acquiring an additional 1,521 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

CubeSmart stock opened at $38.72 on Thursday. The firm has a market capitalization of $8.79 billion, a PE ratio of 26.71 and a beta of 1.10. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13. The firm’s 50-day simple moving average is $38.65 and its 200 day simple moving average is $38.72. 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 announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. CubeSmart’s 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 that occurred 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 sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CUBE shares. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Deutsche Bank Aktiengesellschaft cut shares of 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. Royal Bank Of Canada upped their target price on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. UBS Group dropped their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, Wells Fargo & Company decreased their price target on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.