Cetera Trust Company N.A Invests $124,000 in CubeSmart (NYSE:CUBE)

Cetera Trust Company N.A bought a new position in shares of CubeSmart (NYSE:CUBE) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,675 shares of the real estate investment trust’s stock, valued at approximately $124,000.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 292 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $37,000. Private Trust Co. NA boosted its stake in shares of CubeSmart by 182.9% during the fourth quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 898 shares in the last quarter. Covestor Ltd boosted its stake in shares of CubeSmart by 65.8% during the third quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 573 shares in the last quarter. Finally, ZRC Wealth Management LLC bought a new position in shares of CubeSmart during the fourth quarter valued at approximately $104,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Up 0.2 %

NYSE:CUBE opened at $42.15 on Tuesday. CubeSmart has a 12 month low of $33.17 and a 12 month high of $47.81. The firm has a fifty day simple moving average of $43.86 and a 200-day simple moving average of $42.23. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $9.48 billion, a P/E ratio of 23.29 and a beta of 0.69.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.84%. CubeSmart’s payout ratio is currently 112.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CubeSmart in a research note on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective on the stock. Barclays began coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 target price for the company. Truist Financial raised their target price on shares of CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Wells Fargo & Company raised their target price on shares of CubeSmart from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Raymond James restated an “outperform” rating and issued a $48.00 target price on shares of CubeSmart in a research note on Thursday, March 28th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.33.

CubeSmart Company 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.