Ceredex Value Advisors LLC Has $10.28 Million Position in CubeSmart $CUBE

Ceredex Value Advisors LLC boosted its stake in shares of CubeSmart (NYSE:CUBE) by 27.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,850 shares of the real estate investment trust’s stock after acquiring an additional 54,900 shares during the period. Ceredex Value Advisors LLC’s holdings in CubeSmart were worth $10,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. Norges Bank acquired a new position in CubeSmart during the 2nd quarter worth approximately $458,008,000. Schroder Investment Management Group acquired a new stake in CubeSmart in the third quarter valued at approximately $23,516,000. Hazelview Securities Inc. bought a new stake in shares of CubeSmart during the second quarter worth $21,643,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CubeSmart by 13,418.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 429,738 shares of the real estate investment trust’s stock worth $18,264,000 after buying an additional 426,559 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of CubeSmart by 4,329.6% during the second quarter. Engineers Gate Manager LP now owns 363,224 shares of the real estate investment trust’s stock worth $15,437,000 after buying an additional 355,024 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 0.3%

CubeSmart stock opened at $39.95 on Wednesday. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 27.55 and a beta of 1.10. 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 1.24, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a 50 day moving average price of $38.60 and a two-hundred day moving average price of $38.72.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

Insiders Place Their Bets

In related news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction 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 transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of research reports. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Royal Bank Of Canada upped their target price on CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Mizuho dropped their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Truist Financial cut their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Tuesday, January 20th. Five 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 an average rating of “Hold” and an average price target of $44.07.

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.