Lightrock Netherlands B.V. Invests $6 Million in CubeSmart (NYSE:CUBE)

Lightrock Netherlands B.V. acquired a new stake in shares of CubeSmart (NYSE:CUBE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 139,407 shares of the real estate investment trust’s stock, valued at approximately $6,003,000. CubeSmart accounts for 2.1% of Lightrock Netherlands B.V.’s portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after buying an additional 624,661 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CubeSmart by 1.1% during the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock valued at $247,295,000 after purchasing an additional 50,340 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CubeSmart by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after purchasing an additional 135,211 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of CubeSmart by 2.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust’s stock worth $118,487,000 after purchasing an additional 42,994 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CubeSmart by 326.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after purchasing an additional 1,282,995 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Down 0.4 %

CUBE stock opened at $42.21 on Tuesday. The company’s 50 day moving average is $42.99 and its 200 day moving average is $47.61. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 11.67 and a beta of 0.87. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.52 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.93%. CubeSmart’s dividend payout ratio is presently 117.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and reduced their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and reduced their target price for the company from $46.00 to $45.00 in a report on Friday, January 10th. Finally, Scotiabank decreased their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average target price of $49.73.

CubeSmart Profile

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.