Presima Securities ULC Decreases Stake in CubeSmart $CUBE

Presima Securities ULC trimmed 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 Securities and Exchange Commission (SEC). The institutional investor owned 393,946 shares of the real estate investment trust’s stock after selling 94,047 shares during the quarter. CubeSmart makes up about 4.4% of Presima Securities ULC’s portfolio, making the stock its 10th largest holding. Presima Securities ULC’s holdings in CubeSmart were worth $16,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CUBE. Securian Asset Management Inc. increased its holdings in shares of CubeSmart by 1.5% during the second quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock worth $738,000 after buying an additional 264 shares in the last quarter. Cetera Investment Advisers grew its position in CubeSmart by 1.6% during the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 265 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in CubeSmart by 1.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,183 shares of the real estate investment trust’s stock worth $943,000 after purchasing an additional 319 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in CubeSmart by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,723 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 340 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of CubeSmart by 4.5% during the third quarter. TD Private Client Wealth LLC now owns 8,337 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Trading Down 0.3%

NYSE:CUBE opened at $38.74 on Thursday. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s fifty day moving average is $37.39 and its 200-day moving average is $38.65. The firm has a market cap of $8.83 billion, a P/E ratio of 24.83, a P/E/G ratio of 11.91 and a beta of 1.12.

CubeSmart Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CUBE shares. UBS Group lowered their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Wells Fargo & Company decreased their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, Evercore lowered their target price on CubeSmart from $49.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $44.13.

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.