Profund Advisors LLC Invests $434,000 in CubeSmart (NYSE:CUBE)

Posted by Defense World Staff on Apr 23rd, 2023

Profund Advisors LLC bought a new position in shares of CubeSmart (NYSE:CUBE – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,775 shares of the real estate investment trust’s stock, valued at approximately $434,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its position in shares of CubeSmart by 60.7% during the fourth quarter. Allworth Financial LP now owns 715 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 270 shares during the last quarter. HHM Wealth Advisors LLC increased its position in shares of CubeSmart by 669.3% during the third quarter. HHM Wealth Advisors LLC now owns 777 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 676 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of CubeSmart during the third quarter worth about $34,000. CWM LLC increased its position in shares of CubeSmart by 46.9% during the fourth quarter. CWM LLC now owns 1,316 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 420 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new stake in shares of CubeSmart during the fourth quarter worth about $72,000. 93.62% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

Shares of CUBE stock opened at $45.82 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average of $46.32 and a two-hundred day moving average of $43.01. CubeSmart has a 52 week low of $36.82 and a 52 week high of $53.51. The company has a market cap of $10.29 billion, a P/E ratio of 35.52, a PEG ratio of 3.18 and a beta of 0.58.

CubeSmart Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were paid a $0.49 dividend. The ex-dividend date was Friday, March 31st. This represents a $1.96 dividend on an annualized basis and a yield of 4.28%. CubeSmart’s payout ratio is currently 151.94%.

Analyst Ratings Changes

A number of equities analysts recently commented on CUBE shares. StockNews.com started coverage on CubeSmart in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and decreased their price target for the stock from $47.00 to $41.00 in a research note on Monday, January 2nd. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $54.00 to $52.00 in a research note on Thursday. Raymond James downgraded CubeSmart from a “strong-buy” rating to an “outperform” rating and set a $55.00 price target for the company. in a research note on Tuesday, April 4th. Finally, Truist Financial lifted their price target on CubeSmart from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, March 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.71.

CubeSmart Company Profile

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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.