Vanguard Group Inc. Has $1.27 Billion Stock Holdings in CubeSmart $CUBE

Vanguard Group Inc. boosted its position in CubeSmart (NYSE:CUBE) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 31,285,353 shares of the real estate investment trust’s stock after buying an additional 59,148 shares during the quarter. Vanguard Group Inc. owned approximately 0.14% of CubeSmart worth $1,272,062,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CUBE. Diamond Hill Capital Management Inc. raised its holdings in CubeSmart by 4.4% in 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 buying an additional 75,855 shares during the last quarter. Aew Capital Management L P grew its holdings in CubeSmart by 164,585.0% during the 2nd quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock worth $27,996,000 after acquiring an additional 658,340 shares during the last quarter. Capital Fund Management S.A. acquired a new position in CubeSmart in the 2nd quarter valued at approximately $1,583,000. Retirement Systems of Alabama raised its stake in shares of CubeSmart by 5.4% during 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 acquiring an additional 32,697 shares during the last quarter. Finally, Davidson Investment Advisors lifted its holdings 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 purchasing an additional 104,283 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CUBE. Wells Fargo & Company decreased their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Evercore reduced their price target on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Finally, Mizuho reduced their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.13.

CubeSmart Stock Performance

CUBE stock opened at $40.31 on Friday. The firm has a market cap of $9.19 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 11.85 and a beta of 1.12. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $37.51 and a 200-day moving average price of $38.65. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.53 dividend. The ex-dividend date was Friday, January 2nd. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. CubeSmart’s dividend payout ratio is presently 135.90%.

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.