Stephens Inc. AR Decreases Holdings in CubeSmart (NYSE:CUBE)

Stephens Inc. AR trimmed its holdings in shares of CubeSmart (NYSE:CUBEGet Rating) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,631 shares of the real estate investment trust’s stock after selling 3,288 shares during the quarter. Stephens Inc. AR’s holdings in CubeSmart were worth $397,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI bought a new position in CubeSmart during the 4th quarter valued at about $36,000. New York State Teachers Retirement System grew its holdings in CubeSmart by 8.8% during the 4th quarter. New York State Teachers Retirement System now owns 18,500 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 1,500 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in CubeSmart by 20.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,586 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 1,622 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in CubeSmart in the 4th quarter worth about $15,677,000. Finally, Illinois Municipal Retirement Fund grew its stake in CubeSmart by 30.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 20,085 shares of the real estate investment trust’s stock worth $1,143,000 after acquiring an additional 4,672 shares in the last quarter. 95.92% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Trading Up 1.5 %

NYSE:CUBE opened at $45.52 on Thursday. CubeSmart has a 52 week low of $38.67 and a 52 week high of $57.34. The firm has a 50 day moving average of $42.88 and a 200 day moving average of $47.15. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 2.48 and a beta of 0.50.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 3.78%. CubeSmart’s payout ratio is 163.81%.

Analyst Upgrades and Downgrades

CUBE has been the topic of a number of research analyst reports. Raymond James upgraded shares of CubeSmart from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $60.00 to $52.00 in a research note on Monday, May 23rd. Bank of America upgraded shares of CubeSmart from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 21st. StockNews.com upgraded shares of CubeSmart from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group dropped their price objective on shares of CubeSmart from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Finally, Evercore ISI set a $58.00 price objective on shares of CubeSmart in a research note on Monday, June 20th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.00.

CubeSmart Profile

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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 secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

See Also

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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