Asset Management One Co. Ltd. Has $16.23 Million Position in CubeSmart (NYSE:CUBE)

Asset Management One Co. Ltd. boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 381,134 shares of the real estate investment trust’s stock after acquiring an additional 3,816 shares during the period. Asset Management One Co. Ltd.’s holdings in CubeSmart were worth $16,229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CubeSmart by 326.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after buying an additional 1,282,995 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after purchasing an additional 624,661 shares during the period. SG Americas Securities LLC grew its holdings in CubeSmart by 10,685.4% during the fourth quarter. SG Americas Securities LLC now owns 488,579 shares of the real estate investment trust’s stock valued at $20,936,000 after purchasing an additional 484,049 shares during the period. Presima Securities ULC raised its holdings in CubeSmart by 4,092.4% in the fourth quarter. Presima Securities ULC now owns 444,390 shares of the real estate investment trust’s stock worth $19,042,000 after purchasing an additional 433,790 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of CubeSmart by 46.6% during the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock worth $29,406,000 after purchasing an additional 173,683 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBE has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and dropped their target price for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Scotiabank lowered their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.73.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $41.59 on Friday. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 11.67 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The business has a 50-day moving average of $42.52 and a 200-day moving average of $47.44.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.52 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. CubeSmart’s payout ratio is 117.51%.

About CubeSmart

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.