Schroder Investment Management Group Acquires New Position in CubeSmart $CUBE

Schroder Investment Management Group bought a new position in CubeSmart (NYSE:CUBE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 579,208 shares of the real estate investment trust’s stock, valued at approximately $23,516,000. Schroder Investment Management Group owned about 0.25% of CubeSmart as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Inceptionr LLC purchased a new stake in shares of CubeSmart during the third quarter valued at approximately $610,000. Dynamic Technology Lab Private Ltd purchased a new position in CubeSmart in the 3rd quarter worth approximately $232,000. Blair William & Co. IL bought a new position in CubeSmart in the 3rd quarter valued at approximately $212,000. Barclays PLC lifted its position in CubeSmart by 25.9% in the 3rd quarter. Barclays PLC now owns 584,712 shares of the real estate investment trust’s stock valued at $23,774,000 after acquiring an additional 120,117 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in CubeSmart by 1.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 16,357 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 282 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

NYSE CUBE opened at $38.16 on Friday. The business’s fifty day moving average price is $38.69 and its 200-day moving average price is $38.71. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 26.31 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13.

CubeSmart Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Analysts Set New Price Targets

A number of analysts have commented on CUBE shares. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Tuesday, January 20th. Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Royal Bank Of Canada increased their price objective on CubeSmart from $43.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Mizuho decreased their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Barclays upped their target price on shares of CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, CubeSmart has an average rating of “Hold” and an average target price of $44.07.

Insider Activity

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.69% of the stock is currently owned by corporate insiders.

CubeSmart Company 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.