Greenleaf Trust Takes Position in CubeSmart (NYSE:CUBE)

Greenleaf Trust acquired a new stake in shares of CubeSmart (NYSE:CUBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,949 shares of the real estate investment trust’s stock, valued at approximately $229,000.

A number of other large investors have also made changes to their positions in CUBE. AE Wealth Management LLC raised its position in shares of CubeSmart by 24.5% during the third quarter. AE Wealth Management LLC now owns 38,306 shares of the real estate investment trust’s stock valued at $1,461,000 after buying an additional 7,536 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of CubeSmart by 8.1% during the third quarter. Boston Trust Walden Corp now owns 761,298 shares of the real estate investment trust’s stock valued at $29,028,000 after buying an additional 57,347 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of CubeSmart during the third quarter valued at about $683,000. Handelsbanken Fonder AB raised its position in shares of CubeSmart by 8.3% during the third quarter. Handelsbanken Fonder AB now owns 52,334 shares of the real estate investment trust’s stock valued at $1,995,000 after buying an additional 4,000 shares during the last quarter. Finally, Lake Street Financial LLC raised its position in CubeSmart by 7.2% in the third quarter. Lake Street Financial LLC now owns 38,929 shares of the real estate investment trust’s stock worth $1,505,000 after purchasing an additional 2,601 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE CUBE opened at $42.10 on Thursday. CubeSmart has a 1-year low of $33.17 and a 1-year high of $47.81. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $43.83 and a 200-day moving average of $42.27. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 23.26 and a beta of 0.69.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.51 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 4.85%. CubeSmart’s dividend payout ratio (DPR) is currently 112.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on CUBE. Wells Fargo & Company increased their price target on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Raymond James reissued an “outperform” rating and issued a $48.00 price target on shares of CubeSmart in a research report on Thursday, March 28th. Truist Financial increased their price target on shares of CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a research report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 price target for the company. Finally, Jefferies Financial Group raised shares of CubeSmart from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus target price of $46.33.

About CubeSmart

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.