Inceptionr LLC Buys Shares of 15,197 CubeSmart $CUBE

Inceptionr LLC bought a new position in shares of CubeSmart (NYSE:CUBE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,197 shares of the real estate investment trust’s stock, valued at approximately $610,000.

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after buying an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 6,412 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock worth $20,684,000 after purchasing an additional 19,476 shares during the last quarter. Caxton Associates LLP bought a new position in CubeSmart during the 1st quarter worth $270,000. Finally, Bank of Montreal Can increased its position in CubeSmart by 2.5% in the second quarter. Bank of Montreal Can now owns 61,236 shares of the real estate investment trust’s stock worth $2,603,000 after buying an additional 1,521 shares during the period. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Trading Down 0.3%

CubeSmart stock opened at $39.95 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13. The business’s 50-day simple moving average is $38.60 and its 200-day simple moving average is $38.72. The firm has a market capitalization of $9.07 billion, a PE ratio of 27.55 and a beta of 1.10.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio is presently 146.21%.

Analyst Upgrades and Downgrades

CUBE has been the subject of several recent research reports. Mizuho lowered their price target on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Truist Financial reduced their price objective on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Barclays increased their price target on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft cut shares of 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. Finally, Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.07.

Insider Buying and Selling

In other news, insider Jeffrey P. Foster sold 23,148 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the transaction, the insider directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.69% of the stock is currently owned by corporate insiders.

About CubeSmart

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.