Cadence Bank Acquires Shares of 112,150 CubeSmart $CUBE

Key Points

• Cadence Bank opened a new position in CubeSmart during Q4, buying 112,150 shares valued at about $4.04 million as part of a market where institutional investors own roughly 97.61% of the stock.
• Insider Jeffrey P. Foster sold 23,148 shares on March 3 at an average of $41.02, cutting his holdings by 10.14%; company insiders now hold just 1.76% of CubeSmart.
• CubeSmart pays a quarterly dividend of $0.53 (annualized yield ~5.4%) but carries a high payout ratio of 146.21%, and analysts maintain a consensus "Hold" rating with a $43.57 price target.

Cadence Bank acquired a new stake in CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 112,150 shares of the real estate investment trust's stock, valued at approximately $4,043,000.

A number of other institutional investors also recently bought and sold shares of CUBE. Alyeska Investment Group L.P. increased its stake in CubeSmart by 36.4% in the third 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 during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in CubeSmart by 37.3% in the third 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 purchasing an additional 914,884 shares during the period. SG Americas Securities LLC increased its stake in CubeSmart by 3,255.9% in the fourth quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust's stock valued at $26,655,000 after purchasing an additional 717,350 shares during the period. Schroder Investment Management Group acquired a new position in CubeSmart in the third quarter valued at $23,516,000. Finally, Engineers Gate Manager LP increased its stake in CubeSmart by 4,329.6% in the second quarter. Engineers Gate Manager LP now owns 363,224 shares of the real estate investment trust's stock valued at $15,437,000 after purchasing an additional 355,024 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the company'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 sale, the insider owned 205,057 shares of the company's stock, valued at $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

CUBE has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their price target on shares of CubeSmart from $43.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday, March 2nd. UBS Group dropped their price target on shares of CubeSmart from $38.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft lowered shares of CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 price target on the stock. in a research note on Tuesday, January 20th. Finally, Wells Fargo & Company dropped their price target on shares of CubeSmart from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 16th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $43.57.

CubeSmart Stock Down 1.2%

CUBE stock opened at $39.05 on Tuesday. The company has a market cap of $8.90 billion, a P/E ratio of 26.93 and a beta of 1.13. CubeSmart has a 52 week low of $35.09 and a 52 week high of $44.13. The company's 50-day moving average price is $38.77 and its 200 day moving average price is $38.13. 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 declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Wednesday, April 1st. CubeSmart's dividend payout ratio is 146.21%.

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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