Caprock Group LLC Takes Position in CubeSmart $CUBE

Caprock Group LLC acquired a new position in shares of CubeSmart (NYSE:CUBE) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 43,114 shares of the real estate investment trust’s stock, valued at approximately $1,764,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of CubeSmart in the second quarter worth about $458,008,000. Aew Capital Management L P raised its holdings in CubeSmart by 164,585.0% during the 2nd quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock worth $27,996,000 after buying an additional 658,340 shares during the period. Hazelview Securities Inc. bought a new position in CubeSmart in the second quarter valued at approximately $21,643,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of CubeSmart by 13,418.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 429,738 shares of the real estate investment trust’s stock valued at $18,264,000 after buying an additional 426,559 shares during the period. Finally, Engineers Gate Manager LP increased its position 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 acquiring an additional 355,024 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. UBS Group decreased their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. 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 note on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Tuesday, January 20th. Finally, Barclays reduced their target price on shares of CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.13.

CubeSmart Price Performance

NYSE:CUBE opened at $38.92 on Friday. The stock has a market capitalization of $8.88 billion, a PE ratio of 24.95, a P/E/G ratio of 11.81 and a beta of 1.12. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The firm has a fifty day simple moving average of $37.21 and a 200 day simple moving average of $38.69. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders 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 annualized dividend and a dividend yield of 5.4%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio (DPR) is presently 135.90%.

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.