22,900 Shares in CubeSmart $CUBE Acquired by Versor Investments LP

Versor Investments LP bought a new stake in shares of CubeSmart (NYSE:CUBE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,900 shares of the real estate investment trust’s stock, valued at approximately $931,000.

A number of other hedge funds have also added to or reduced their stakes in CUBE. Norges Bank purchased a new stake in shares of CubeSmart in the 2nd quarter worth about $458,008,000. Invesco Ltd. lifted its holdings in CubeSmart by 0.8% in the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CubeSmart by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock valued at $137,171,000 after acquiring an additional 44,288 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CubeSmart by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,222,338 shares of the real estate investment trust’s stock worth $94,449,000 after acquiring an additional 12,513 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in shares of CubeSmart by 1.6% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,219,524 shares of the real estate investment trust’s stock worth $94,330,000 after acquiring an additional 35,760 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

CUBE stock opened at $38.53 on Wednesday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. The stock’s 50 day simple moving average is $37.10 and its 200 day simple moving average is $38.70. 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 market capitalization of $8.79 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 11.69 and a beta of 1.12.

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 dividend of $0.53 per share. 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 5.5%. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s dividend payout ratio is currently 135.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays lowered their target price on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Mizuho dropped their target price on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. 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 note on Tuesday, January 20th. Finally, Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart has an average rating of “Hold” and an average price target of $44.13.

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.