Keybank National Association OH Has $2.66 Million Stock Holdings in CubeSmart $CUBE

Keybank National Association OH reduced its holdings in shares of CubeSmart (NYSE:CUBE) by 47.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,463 shares of the real estate investment trust’s stock after selling 60,268 shares during the quarter. Keybank National Association OH’s holdings in CubeSmart were worth $2,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC lifted its position in CubeSmart by 308.2% in the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 524 shares in the last quarter. Private Trust Co. NA boosted its position in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 478 shares during the last quarter. Geneos Wealth Management Inc. raised its position in CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 568 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in CubeSmart during the 3rd quarter valued at $42,000. Finally, IFP Advisors Inc boosted its holdings in CubeSmart by 737.2% during the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 1,349 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Price Performance

NYSE CUBE opened at $37.07 on Tuesday. The company has a market cap of $8.45 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 8.25 and a beta of 1.11. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The firm’s 50-day simple moving average is $36.95 and its two-hundred day simple moving average is $38.83. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s payout ratio is 135.90%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Evercore ISI cut their target price on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. UBS Group decreased their price target on CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Barclays dropped their price target on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 13th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.40.

CubeSmart 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.