Fieldview Capital Management LLC Purchases New Shares in CubeSmart $CUBE

Key Points

• Fieldview Capital Management bought a new position in CubeSmart of 113,193 shares (~$4.60M) in Q3, representing about 0.8% of its holdings and the firm's 24th-largest position.
• Insider Jeffrey P. Foster sold 23,148 shares on March 3 at an average of $41.02 (≈$949,531), reducing his stake by 10.14%; insiders now own 1.69% of the company.
• CubeSmart announced a quarterly dividend of $0.53 per share (annualized $2.12), with an ex-dividend date of April 1 and a yield of about 5.3% (DPR 146.21%).

Fieldview Capital Management LLC purchased a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 113,193 shares of the real estate investment trust's stock, valued at approximately $4,602,000. CubeSmart makes up approximately 0.8% of Fieldview Capital Management LLC's holdings, making the stock its 24th largest position.

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

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.69% of the company's stock.

CubeSmart Price Performance

Shares of CUBE stock opened at $40.20 on Monday. The firm's 50 day moving average price is $38.44 and its two-hundred day moving average price is $38.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The stock has a market cap of $9.13 billion, a PE ratio of 27.72 and a beta of 1.10.

CubeSmart Dividend Announcement

The business 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. 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 (DPR) is 146.21%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wolfe Research lowered CubeSmart from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. Mizuho dropped their target price on CubeSmart from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Friday, December 5th. Wells Fargo & Company cut their price target on CubeSmart from $44.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 5th. Royal Bank Of Canada raised their price target on CubeSmart from $43.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, March 2nd. Finally, Truist Financial lowered their price objective on CubeSmart from $48.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, December 16th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and an average target price of $44.07.

About CubeSmart

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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