Fieldview Capital Management LLC Acquires New Shares in CubeSmart $CUBE

Fieldview Capital Management LLC acquired a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 113,193 shares of the real estate investment trust’s stock, valued at approximately $4,602,000. CubeSmart makes up 0.8% of Fieldview Capital Management LLC’s portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. Swiss National Bank grew its stake in CubeSmart by 1.1% in the third quarter. Swiss National Bank now owns 442,000 shares of the real estate investment trust’s stock valued at $17,972,000 after acquiring an additional 4,600 shares during the period. Schroder Investment Management Group acquired a new stake in shares of CubeSmart during the third quarter worth about $23,516,000. Inceptionr LLC acquired a new stake in shares of CubeSmart during the third quarter worth about $610,000. Dynamic Technology Lab Private Ltd bought a new position in shares of CubeSmart during the 3rd quarter valued at about $232,000. Finally, Blair William & Co. IL bought a new position in shares of CubeSmart during the 3rd quarter valued at about $212,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Price Performance

NYSE:CUBE opened at $40.20 on Monday. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a market cap of $9.13 billion, a P/E ratio of 27.72 and a beta of 1.10. 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 stock’s 50-day simple moving average is $38.44 and its 200 day simple moving average is $38.72.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid 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 5.3%. CubeSmart’s dividend payout ratio is 146.21%.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group lowered their target price on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada upped their price target on shares of CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, CubeSmart has an average rating of “Hold” and an average target price of $44.07.

CubeSmart 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.