DekaBank Deutsche Girozentrale Sells 2,676 Shares of CubeSmart (NYSE:CUBE)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale trimmed its position in CubeSmart (NYSE:CUBE – Get Rating) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,260 shares of the real estate investment trust’s stock after selling 2,676 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CubeSmart were worth $1,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. M&T Bank Corp boosted its stake in CubeSmart by 1.0% in the third quarter. M&T Bank Corp now owns 25,747 shares of the real estate investment trust’s stock valued at $1,030,000 after acquiring an additional 257 shares in the last quarter. Allworth Financial LP boosted its stake in CubeSmart by 60.7% in the fourth quarter. Allworth Financial LP now owns 715 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Assetmark Inc. boosted its stake in CubeSmart by 10.9% in the third quarter. Assetmark Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 275 shares in the last quarter. Toronto Dominion Bank boosted its stake in CubeSmart by 1.2% in the third quarter. Toronto Dominion Bank now owns 23,796 shares of the real estate investment trust’s stock valued at $953,000 after acquiring an additional 278 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of CubeSmart by 0.5% during the third quarter. Arizona State Retirement System now owns 60,991 shares of the real estate investment trust’s stock worth $2,443,000 after buying an additional 286 shares during the period. 93.62% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Trading Down 1.2 %

Shares of CubeSmart stock opened at $45.65 on Friday. CubeSmart has a 1 year low of $36.82 and a 1 year high of $54.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a fifty day moving average price of $46.32 and a 200 day moving average price of $42.96. The stock has a market cap of $10.25 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 3.21 and a beta of 0.58.

CubeSmart Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, March 31st. This represents a $1.96 dividend on an annualized basis and a yield of 4.29%. CubeSmart’s payout ratio is 151.94%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research reports. BMO Capital Markets downgraded shares of CubeSmart from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $54.00 to $52.00 in a research note on Thursday. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $47.00 to $41.00 in a research note on Monday, January 2nd. StockNews.com initiated coverage on shares of CubeSmart in a research note on Thursday, March 16th. They set a “hold” rating for the company. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, April 12th. Finally, Raymond James cut shares of CubeSmart from a “strong-buy” rating to an “outperform” rating and set a $55.00 target price for the company. in a report on Tuesday, April 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CubeSmart presently has an average rating of “Hold” and a consensus target price of $48.71.

CubeSmart Company Profile

(Get Rating)

CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.