Pensionfund PDN Makes New $1.76 Million Investment in CubeSmart $CUBE

Pensionfund PDN bought a new position in CubeSmart (NYSE:CUBE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,800 shares of the real estate investment trust’s stock, valued at approximately $1,759,000. CubeSmart makes up about 1.2% of Pensionfund PDN’s holdings, making the stock its 27th largest position.

A number of other institutional investors have also recently made changes to their positions in CUBE. Norges Bank bought a new position in CubeSmart in the 2nd quarter valued at approximately $458,008,000. Alyeska Investment Group L.P. boosted its stake in CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock valued at $174,185,000 after purchasing an additional 1,143,464 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in CubeSmart by 37.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock valued at $136,805,000 after purchasing an additional 914,884 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of CubeSmart by 3,255.9% in the 4th quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock worth $26,655,000 after purchasing an additional 717,350 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of CubeSmart in the third quarter worth $23,516,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

CUBE stock opened at $37.16 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. CubeSmart has a 1 year low of $34.24 and a 1 year high of $44.13. The company has a market cap of $8.44 billion, a P/E ratio of 25.63 and a beta of 1.10. The stock’s fifty day moving average price is $38.91 and its 200-day moving average price is $38.56.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s payout ratio is currently 146.21%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CUBE shares. Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Royal Bank Of Canada lifted their price objective on CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Mizuho decreased their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Wednesday, March 18th. Finally, Truist Financial reduced their price target on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.64.

Insider Activity

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

CubeSmart Company 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.