abrdn plc Buys 24,832 Shares of CubeSmart (NYSE:CUBE)

abrdn plc boosted its holdings in CubeSmart (NYSE:CUBE) by 53.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,922 shares of the real estate investment trust’s stock after purchasing an additional 24,832 shares during the period. abrdn plc’s holdings in CubeSmart were worth $3,003,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CUBE. Versant Capital Management Inc lifted its stake in shares of CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 673 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 289 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in CubeSmart in the third quarter worth $33,000. Finally, Brooklyn Investment Group purchased a new position in CubeSmart in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Scotiabank dropped their target price on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their target price for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their price target on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CubeSmart currently has a consensus rating of “Hold” and a consensus price target of $49.73.

CubeSmart Stock Down 0.0 %

CUBE stock opened at $42.38 on Monday. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 11.67 and a beta of 0.87. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The business’s 50 day moving average price is $43.13 and its two-hundred day moving average price is $47.65. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.52 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. CubeSmart’s dividend payout ratio is 117.51%.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.