17,021 Shares in CubeSmart $CUBE Purchased by Level Four Advisory Services LLC

Level Four Advisory Services LLC purchased a new stake in CubeSmart (NYSE:CUBE) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 17,021 shares of the real estate investment trust’s stock, valued at approximately $692,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in CubeSmart during the 2nd quarter worth approximately $458,008,000. JPMorgan Chase & Co. grew its holdings in CubeSmart by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after buying an additional 91,694 shares in the last quarter. Invesco Ltd. grew its holdings in CubeSmart by 0.8% during the second quarter. Invesco Ltd. now owns 3,239,474 shares of the real estate investment trust’s stock worth $137,678,000 after buying an additional 25,994 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CubeSmart by 1.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,227,559 shares of the real estate investment trust’s stock valued at $137,171,000 after buying an additional 44,288 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in CubeSmart by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,222,338 shares of the real estate investment trust’s stock valued at $94,449,000 after acquiring an additional 12,513 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CUBE. Truist Financial reduced their target price 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. Wells Fargo & Company dropped their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Barclays upped their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group decreased their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. 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.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $40.20 on Friday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The company’s 50-day moving average is $38.44 and its 200 day moving average is $38.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.47 and a current ratio of 0.04. The company has a market capitalization of $9.13 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 12.61 and a beta of 1.10.

CubeSmart Announces Dividend

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

Insider Activity

In related news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the sale, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.69% of the stock is currently owned by 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.