Metis Global Partners LLC Grows Position in CubeSmart $CUBE

Metis Global Partners LLC increased its holdings in shares of CubeSmart (NYSE:CUBE) by 36.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,384 shares of the real estate investment trust’s stock after purchasing an additional 13,624 shares during the quarter. Metis Global Partners LLC’s holdings in CubeSmart were worth $2,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Abich Financial Wealth Management LLC purchased a new position in CubeSmart during the third quarter worth about $172,000. Caprock Group LLC purchased a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $1,764,000. MQS Management LLC acquired a new position in shares of CubeSmart in the 3rd quarter worth approximately $535,000. Versor Investments LP purchased a new position in shares of CubeSmart during the 3rd quarter worth approximately $931,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of CubeSmart by 4.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock worth $73,748,000 after purchasing an additional 75,855 shares during the period. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CUBE. Truist Financial cut their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. UBS Group cut their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $44.13.

CubeSmart Stock Up 1.0%

Shares of NYSE CUBE opened at $38.92 on Friday. The stock has a market cap of $8.88 billion, a P/E ratio of 24.95, a PEG ratio of 11.93 and a beta of 1.12. The business’s fifty day simple moving average is $37.21 and its 200-day simple moving average is $38.67. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio is 135.90%.

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.