International Assets Investment Management LLC Purchases Shares of 60,983 CubeSmart (NYSE:CUBE)

International Assets Investment Management LLC bought a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 60,983 shares of the real estate investment trust's stock, valued at approximately $2,827,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in CubeSmart by 22.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 5,761 shares of the real estate investment trust's stock worth $220,000 after buying an additional 1,051 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of CubeSmart by 30.6% during the 4th quarter. Nordea Investment Management AB now owns 484,855 shares of the real estate investment trust's stock valued at $22,633,000 after purchasing an additional 113,571 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of CubeSmart by 24.4% during the 4th quarter. DAVENPORT & Co LLC now owns 124,717 shares of the real estate investment trust's stock valued at $5,781,000 after purchasing an additional 24,483 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of CubeSmart by 95.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 75,900 shares of the real estate investment trust's stock valued at $2,894,000 after purchasing an additional 37,086 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of CubeSmart by 12.9% during the 4th quarter. Boston Trust Walden Corp now owns 859,277 shares of the real estate investment trust's stock valued at $39,827,000 after purchasing an additional 97,979 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CUBE. Jefferies Financial Group upgraded CubeSmart from a "hold" rating to a "buy" rating and lifted their price objective for the company from $38.00 to $53.00 in a report on Tuesday, January 2nd. Truist Financial lifted their price objective on CubeSmart from $43.00 to $46.00 and gave the company a "hold" rating in a report on Thursday, December 28th. Wells Fargo & Company lifted their price objective on CubeSmart from $42.00 to $46.00 and gave the company an "equal weight" rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft assumed coverage on CubeSmart in a report on Tuesday, January 30th. They set a "sell" rating and a $40.00 price objective on the stock. Finally, Evercore ISI lifted their target price on CubeSmart from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.33.

CubeSmart Stock Up 0.5 %

Shares of NYSE:CUBE traded up $0.19 during trading on Friday, hitting $42.05. 868,975 shares of the company were exchanged, compared to its average volume of 1,479,894. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 23.23 and a beta of 0.69. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $47.81. The firm has a fifty day moving average price of $43.89 and a two-hundred day moving average price of $42.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Thursday, March 28th. CubeSmart's dividend payout ratio (DPR) is 112.71%.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.