True North Advisors LLC Sells 903 Shares of CubeSmart (NYSE:CUBE)

True North Advisors LLC reduced its position in CubeSmart (NYSE:CUBEFree Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,978 shares of the real estate investment trust’s stock after selling 903 shares during the period. True North Advisors LLC’s holdings in CubeSmart were worth $2,085,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its stake in CubeSmart by 22.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 5,761 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 1,051 shares in the last quarter. Nordea Investment Management AB lifted its stake in CubeSmart by 30.6% during the 4th quarter. Nordea Investment Management AB now owns 484,855 shares of the real estate investment trust’s stock valued at $22,633,000 after acquiring an additional 113,571 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in CubeSmart by 95.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 75,900 shares of the real estate investment trust’s stock valued at $2,894,000 after acquiring an additional 37,086 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in CubeSmart by 34.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 47,818 shares of the real estate investment trust’s stock valued at $1,823,000 after acquiring an additional 12,171 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in CubeSmart by 29,910.3% during the 3rd quarter. Lazard Asset Management LLC now owns 604,408 shares of the real estate investment trust’s stock valued at $23,044,000 after acquiring an additional 602,394 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Stock Down 0.5 %

CUBE stock opened at $45.00 on Tuesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $10.12 billion, a PE ratio of 24.86 and a beta of 0.69. CubeSmart has a twelve month low of $33.17 and a twelve month high of $48.93. The stock has a 50-day simple moving average of $43.97 and a two-hundred day simple moving average of $41.70.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Thursday, March 28th. CubeSmart’s payout ratio is presently 112.71%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 target price for the company. Wells Fargo & Company raised their target price on CubeSmart from $37.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 12th. Truist Financial raised their target price on CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft started coverage on CubeSmart in a report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price objective for the company. Finally, Raymond James reissued an “outperform” rating and issued a $48.00 price objective on shares of CubeSmart in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus target price of $46.00.

Get Our Latest Stock Analysis on CubeSmart

CubeSmart Company 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.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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