Barclays PLC Acquires 120,117 Shares of CubeSmart $CUBE

Key Points

• Barclays PLC increased its stake in CubeSmart by 25.9%, buying 120,117 shares in Q3 to hold 584,712 shares (about 0.26% of the company) valued at roughly $23.77 million.
• CubeSmart announced a quarterly dividend of $0.53 per share (annualized $2.12), implying a 5.5% yield with an ex-dividend date of April 1 and a payout ratio of 146.21%.
• Insider Jeffrey P. Foster sold 23,148 shares on March 3 at an average price of $41.02, cutting his position by 10.14% to 205,057 shares.

Barclays PLC lifted its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 25.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 584,712 shares of the real estate investment trust's stock after buying an additional 120,117 shares during the period. Barclays PLC owned about 0.26% of CubeSmart worth $23,774,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. grew its holdings in shares of CubeSmart by 4.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust's stock valued at $73,748,000 after purchasing an additional 75,855 shares during the last quarter. Capital Fund Management S.A. bought a new position in CubeSmart in the 2nd quarter valued at approximately $1,583,000. Retirement Systems of Alabama boosted its position in CubeSmart by 5.4% in the third quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust's stock valued at $25,986,000 after buying an additional 32,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in CubeSmart by 817.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 98,298 shares of the real estate investment trust's stock valued at $3,936,000 after buying an additional 87,589 shares in the last quarter. Finally, Davidson Investment Advisors grew its stake in shares of CubeSmart by 29.3% during the third quarter. Davidson Investment Advisors now owns 460,024 shares of the real estate investment trust's stock worth $18,705,000 after buying an additional 104,283 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.

Insider Transactions at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of the company'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 completion of the sale, the insider owned 205,057 shares in the company, valued at $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.69% of the stock is owned by corporate insiders.

CubeSmart Trading Down 3.1%

NYSE:CUBE opened at $38.72 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a 50-day moving average of $38.65 and a 200-day moving average of $38.72. The company has a market cap of $8.79 billion, a PE ratio of 26.71 and a beta of 1.10. CubeSmart has a one year low of $34.24 and a one year high of $44.13.

CubeSmart Announces Dividend

The company also recently disclosed 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 yield of 5.5%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart's payout ratio is currently 146.21%.

Analyst Ratings Changes

Several equities research analysts recently commented on CUBE shares. Wolfe Research downgraded shares of CubeSmart from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. UBS Group lowered their price objective on CubeSmart from $38.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, January 8th. Mizuho lowered their price target on shares of CubeSmart from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Friday, December 5th. Barclays boosted their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, CubeSmart has an average rating of "Hold" and a consensus 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.

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