Tudor Investment Corp ET AL Invests $8.17 Million in CubeSmart $CUBE

Tudor Investment Corp ET AL acquired a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 200,953 shares of the real estate investment trust’s stock, valued at approximately $8,171,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC bought a new position in CubeSmart in the third quarter worth $28,000. Private Trust Co. NA increased its holdings in CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 478 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 568 shares in the last quarter. Huntington National Bank raised its stake in shares of CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in shares of CubeSmart during the 3rd quarter worth about $42,000. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Wells Fargo & Company cut their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Tuesday, January 20th. Barclays upped their price objective on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, BNP Paribas Exane raised CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $43.64.

CubeSmart Stock Up 1.3%

CUBE opened at $37.16 on Tuesday. The firm’s 50-day simple moving average is $38.91 and its 200-day simple moving average is $38.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 25.63 and a beta of 1.10.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.53 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. CubeSmart’s payout ratio is 146.21%.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the sale, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.69% of the company’s stock.

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.