CubeSmart $CUBE Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of CubeSmart (NYSE:CUBE) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,340,869 shares of the real estate investment trust’s stock after buying an additional 91,694 shares during the period. JPMorgan Chase & Co. owned about 2.34% of CubeSmart worth $217,162,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of 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 during the last quarter. Jones Financial Companies Lllp grew its stake in shares of CubeSmart by 944.3% during the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 6,412 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in CubeSmart by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after buying an additional 19,476 shares during the last quarter. Caxton Associates LLP acquired a new stake in CubeSmart in the first quarter valued at $270,000. Finally, CWM LLC lifted its holdings in CubeSmart by 141.9% during the 2nd quarter. CWM LLC now owns 4,718 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 2,768 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $40.31 on Friday. 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 has a twelve month low of $34.24 and a twelve month high of $44.13. The stock has a 50 day moving average of $37.51 and a two-hundred day moving average of $38.65. The stock has a market cap of $9.19 billion, a P/E ratio of 25.84, a P/E/G ratio of 11.85 and a beta of 1.12.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were paid a dividend of $0.53 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio (DPR) is currently 135.90%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CUBE. Mizuho dropped their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. UBS Group lowered their price target on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Wall Street Zen raised shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday. Truist Financial lowered their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.13.

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.