Cetera Trust Company N.A Acquires Shares of 2,675 CubeSmart (NYSE:CUBE)

Cetera Trust Company N.A acquired a new stake in shares of CubeSmart (NYSE:CUBE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,675 shares of the real estate investment trust’s stock, valued at approximately $124,000.

Other large investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of CubeSmart by 22.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 5,761 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 1,051 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of CubeSmart by 30.6% in the 4th quarter. Nordea Investment Management AB now owns 484,855 shares of the real estate investment trust’s stock worth $22,633,000 after purchasing an additional 113,571 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of CubeSmart in the 4th quarter worth approximately $1,370,000. DAVENPORT & Co LLC boosted its position in shares of CubeSmart by 24.4% in the 4th quarter. DAVENPORT & Co LLC now owns 124,717 shares of the real estate investment trust’s stock worth $5,781,000 after purchasing an additional 24,483 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of CubeSmart by 95.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 75,900 shares of the real estate investment trust’s stock worth $2,894,000 after purchasing an additional 37,086 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CUBE shares. Barclays started coverage on CubeSmart in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Truist Financial boosted their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Evercore ISI boosted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, March 4th. Finally, Raymond James restated an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. One investment 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.33.

CubeSmart Price Performance

Shares of CUBE opened at $42.15 on Tuesday. The firm has a market cap of $9.48 billion, a PE ratio of 23.29 and a beta of 0.69. 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 firm has a fifty day simple moving average of $43.86 and a two-hundred day simple moving average of $42.23. CubeSmart has a 1-year low of $33.17 and a 1-year high of $47.81.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.84%. CubeSmart’s dividend payout ratio is presently 112.71%.

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.