Vanderbilt University Invests $555,000 in CubeSmart $CUBE

Vanderbilt University purchased a new position in CubeSmart (NYSE:CUBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,399 shares of the real estate investment trust’s stock, valued at approximately $555,000.

A number of other hedge funds have also made changes to their positions in CUBE. Wiser Advisor Group LLC purchased a new stake in shares of CubeSmart in the third quarter worth approximately $28,000. Private Trust Co. NA lifted its position in shares of CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares in the last quarter. Geneos Wealth Management Inc. raised its position in CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 568 shares in the last quarter. Huntington National Bank raised its position in CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in CubeSmart during the third quarter valued at approximately $42,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CUBE. Truist Financial cut their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Wells Fargo & Company cut their price objective on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Deutsche Bank Aktiengesellschaft lowered shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.64.

CubeSmart Trading Up 0.2%

Shares of CUBE stock opened at $37.26 on Wednesday. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $38.46 and its two-hundred day moving average is $38.22. The company has a market cap of $8.46 billion, a PE ratio of 25.69 and a beta of 1.13.

CubeSmart Announces Dividend

The business also recently declared 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. This represents a $2.12 annualized dividend and a yield of 5.7%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is 146.21%.

Insider Buying and Selling

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.69% of the stock is currently owned by company insiders.

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.