CubeSmart (NYSE:CUBE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in CubeSmart (NYSE:CUBEFree Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,780,476 shares of the real estate investment trust’s stock after buying an additional 42,561 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.24% of CubeSmart worth $106,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of CubeSmart by 4.9% in the first quarter. Vanguard Group Inc. now owns 32,178,558 shares of the real estate investment trust’s stock valued at $1,674,250,000 after buying an additional 1,515,436 shares in the last quarter. BlackRock Inc. grew its stake in CubeSmart by 0.5% during the 1st quarter. BlackRock Inc. now owns 26,226,479 shares of the real estate investment trust’s stock worth $1,212,188,000 after purchasing an additional 138,651 shares in the last quarter. State Street Corp grew its stake in CubeSmart by 1.4% during the 1st quarter. State Street Corp now owns 12,425,300 shares of the real estate investment trust’s stock worth $580,252,000 after purchasing an additional 173,717 shares in the last quarter. Norges Bank acquired a new position in CubeSmart during the 4th quarter worth $293,769,000. Finally, JPMorgan Chase & Co. grew its stake in CubeSmart by 23.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,845,078 shares of the real estate investment trust’s stock worth $305,701,000 after purchasing an additional 1,299,901 shares in the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 0.2 %

CubeSmart stock opened at $43.96 on Friday. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $48.93. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market capitalization of $9.88 billion, a P/E ratio of 26.32, a PEG ratio of 2.95 and a beta of 0.70. The stock has a 50-day simple moving average of $44.74 and a 200-day simple moving average of $41.15.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were issued a $0.51 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Friday, December 29th. CubeSmart’s payout ratio is presently 122.16%.

Analysts Set New Price Targets

Several research firms recently commented on CUBE. Truist Financial boosted their target price on CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. Deutsche Bank Aktiengesellschaft began coverage on CubeSmart in a research note on Tuesday, January 30th. They set a “sell” rating and a $40.00 target price for the company. Evercore ISI cut CubeSmart from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $42.00 to $43.00 in a research note on Monday, December 11th. BMO Capital Markets raised CubeSmart from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $46.00 to $49.00 in a research note on Friday, December 15th. Finally, Jefferies Financial Group raised CubeSmart from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $53.00 in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.36.

Read Our Latest Report on CUBE

CubeSmart Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.