Teachers Advisors LLC lifted its holdings in CubeSmart (NYSE:CUBE) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 340,579 shares of the real estate investment trust’s stock after acquiring an additional 5,702 shares during the quarter. Teachers Advisors LLC’s holdings in CubeSmart were worth $9,717,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in shares of CubeSmart during the third quarter worth $199,000. Alps Advisors Inc. purchased a new stake in shares of CubeSmart during the third quarter worth $223,000. First Mercantile Trust Co. raised its holdings in shares of CubeSmart by 199.2% during the third quarter. First Mercantile Trust Co. now owns 8,707 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 5,797 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of CubeSmart during the third quarter worth $277,000. Finally, Gideon Capital Advisors Inc. bought a new position in CubeSmart during the third quarter valued at about $287,000.
Several equities analysts have weighed in on CUBE shares. Bank of America upgraded CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 target price on the stock in a report on Thursday, November 15th. BMO Capital Markets lowered CubeSmart from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 9th. Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. Finally, ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. CubeSmart presently has a consensus rating of “Buy” and a consensus target price of $31.91.
NYSE CUBE traded up $0.02 during trading on Monday, hitting $31.36. 197,777 shares of the company traded hands, compared to its average volume of 1,170,777. CubeSmart has a 12 month low of $25.34 and a 12 month high of $33.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $5.84 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 3.11 and a beta of 0.31.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd were issued a dividend of $0.32 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 4.08%. The ex-dividend date was Monday, December 31st. CubeSmart’s dividend payout ratio (DPR) is 80.50%.
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 secure storage space for residential and commercial customers. According to the 2018 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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