Nisa Investment Advisors LLC Reduces Position in CubeSmart $CUBE

Nisa Investment Advisors LLC decreased its holdings in CubeSmart (NYSE:CUBE) by 27.7% during the 4th quarter, HoldingsChannel reports. The fund owned 38,527 shares of the real estate investment trust’s stock after selling 14,753 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CubeSmart were worth $1,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in CubeSmart by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock valued at $217,162,000 after purchasing an additional 91,694 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of CubeSmart by 36.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of CubeSmart by 37.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock valued at $136,805,000 after buying an additional 914,884 shares during the last quarter. Invesco Ltd. grew its position in shares of CubeSmart by 0.8% during the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in shares of CubeSmart by 5.4% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,339,974 shares of the real estate investment trust’s stock worth $95,143,000 after buying an additional 120,450 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

CUBE stock opened at $37.23 on Friday. The stock’s 50 day simple moving average is $38.48 and its 200 day simple moving average is $38.29. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The firm has a market cap of $8.46 billion, a P/E ratio of 25.68 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio is 146.21%.

Insider Buying and Selling at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction dated 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 directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CUBE. Wells Fargo & Company cut their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. Barclays raised their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Royal Bank Of Canada upped their target price on shares of CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Wolfe Research cut shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Truist Financial decreased their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus target price of $43.64.

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.