CubeSmart $CUBE Shares Purchased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its stake in shares of CubeSmart (NYSE:CUBE) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,813,777 shares of the real estate investment trust’s stock after acquiring an additional 75,855 shares during the period. Diamond Hill Capital Management Inc. owned 0.80% of CubeSmart worth $73,748,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Azzad Asset Management Inc. ADV increased its position in CubeSmart by 4.1% during the third quarter. Azzad Asset Management Inc. ADV now owns 22,206 shares of the real estate investment trust’s stock worth $903,000 after purchasing an additional 870 shares during the last quarter. Gallacher Capital Management LLC increased its holdings in shares of CubeSmart by 11.3% during the 3rd quarter. Gallacher Capital Management LLC now owns 24,783 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 2,514 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of CubeSmart in the 3rd quarter worth $210,000. Hantz Financial Services Inc. boosted its holdings in CubeSmart by 144.7% in the third quarter. Hantz Financial Services Inc. now owns 4,040 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 2,389 shares during the last quarter. Finally, Syntax Research Inc. purchased a new stake in CubeSmart during the third quarter valued at about $71,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho cut their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Evercore reduced their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Tuesday, January 20th. KeyCorp reissued a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.13.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $38.41 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The business has a 50 day moving average price of $37.05 and a two-hundred day moving average price of $38.77. The firm has a market cap of $8.76 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 8.45 and a beta of 1.12.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.12 annualized dividend and a yield of 5.5%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. CubeSmart’s dividend payout ratio (DPR) is 135.90%.

CubeSmart 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.