Assetmark Inc. Grows Stock Position in CubeSmart (NYSE:CUBE)

Assetmark Inc. raised its holdings in CubeSmart (NYSE:CUBEGet Rating) by 10.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,800 shares of the real estate investment trust’s stock after acquiring an additional 275 shares during the quarter. Assetmark Inc.’s holdings in CubeSmart were worth $112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC purchased a new stake in CubeSmart in the second quarter valued at about $25,000. Wipfli Financial Advisors LLC purchased a new stake in CubeSmart in the third quarter valued at about $34,000. PSI Advisors LLC raised its stake in CubeSmart by 125.0% in the second quarter. PSI Advisors LLC now owns 1,125 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 625 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of CubeSmart by 50.0% in the second quarter. First Horizon Advisors Inc. now owns 1,224 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 408 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of CubeSmart in the second quarter valued at about $53,000. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.9 %

CubeSmart stock opened at $42.63 on Friday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 1.90 and a beta of 0.52. CubeSmart has a 52 week low of $36.82 and a 52 week high of $54.95. The business’s 50-day moving average price is $40.97 and its 200 day moving average price is $42.49. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.05.

CubeSmart Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd were issued a $0.49 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.43. This represents a $1.96 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, December 30th. CubeSmart’s dividend payout ratio (DPR) is presently 171.93%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on CubeSmart in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James cut their price objective on CubeSmart from $58.00 to $48.00 and set a “strong-buy” rating on the stock in a report on Monday, January 9th. Jefferies Financial Group lowered CubeSmart from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $41.00 in a report on Monday, January 2nd. UBS Group assumed coverage on CubeSmart in a report on Monday, October 17th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Truist Financial cut their price objective on CubeSmart from $53.00 to $46.00 in a report on Monday, December 5th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.43.

CubeSmart Company Profile

(Get Rating)

CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.

See Also

Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBEGet Rating).

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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