Davidson Investment Advisors Acquires 3,948 Shares of CubeSmart (NYSE:CUBE)

Davidson Investment Advisors boosted its holdings in shares of CubeSmart (NYSE:CUBE) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 340,910 shares of the real estate investment trust’s stock after acquiring an additional 3,948 shares during the period. Davidson Investment Advisors owned approximately 0.15% of CubeSmart worth $14,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in CubeSmart during the third quarter worth about $33,000. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of CubeSmart by 9,614.3% in the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 673 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 351 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in CubeSmart during the third quarter worth approximately $59,000. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CUBE. Barclays lowered their price target on CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and lowered their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada decreased their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $49.73.

CubeSmart Trading Down 1.0 %

Shares of CUBE stock opened at $41.59 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The company has a market cap of $9.41 billion, a PE ratio of 23.50, a P/E/G ratio of 11.67 and a beta of 0.87. The stock’s fifty day moving average price is $42.40 and its two-hundred day moving average price is $47.40.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.52 per share. This is an increase 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 dividend payout ratio (DPR) is 117.51%.

CubeSmart 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.