Tudor Investment Corp ET AL Invests $8.17 Million in CubeSmart $CUBE

Key Points

• Tudor Investment Corp opened a new position in CubeSmart, buying 200,953 shares in Q3 worth about $8.17 million, representing roughly 0.09% of the company.
• CubeSmart announced a quarterly dividend of $0.53 (ex-dividend April 1, pay April 15), equal to $2.12 annually and a 5.7% yield
• Analyst sentiment is mixed—six Buys versus ten Holds—leaving a consensus rating of "Hold" and a consensus target price of $43.64, following several recent downgrades and lower price targets.

Tudor Investment Corp ET AL bought a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 200,953 shares of the real estate investment trust's stock, valued at approximately $8,171,000. Tudor Investment Corp ET AL owned approximately 0.09% of CubeSmart as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CUBE. Wiser Advisor Group LLC acquired a new stake in shares of CubeSmart during the 3rd quarter worth about $28,000. Private Trust Co. NA raised its position in shares of CubeSmart by 209.6% during the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 478 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 568 shares in the last quarter. Huntington National Bank raised its position in shares of CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of CubeSmart during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CUBE. Wolfe Research lowered CubeSmart from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a research report on Tuesday, January 20th. Scotiabank upgraded CubeSmart to a "hold" rating in a research note on Thursday, March 19th. UBS Group reduced their price objective on CubeSmart from $38.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, January 8th. Finally, Wells Fargo & Company reduced their price objective on CubeSmart from $44.00 to $40.00 and set an "equal weight" rating for the company in a research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, CubeSmart currently has a consensus rating of "Hold" and a consensus target price of $43.64.

CubeSmart Trading Down 0.0%

NYSE:CUBE opened at $37.18 on Tuesday. The firm has a market cap of $8.44 billion, a P/E ratio of 25.64 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. The stock's 50 day simple moving average is $38.47 and its 200-day simple moving average is $38.24. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13.

CubeSmart Announces Dividend

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

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider owned 205,057 shares of the company's stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.69% of the company's stock.

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.

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