Handelsbanken Fonder AB Has $2.74 Million Holdings in CubeSmart (NYSE:CUBE)

Handelsbanken Fonder AB cut its holdings in shares of CubeSmart (NYSE:CUBE) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,934 shares of the real estate investment trust’s stock after selling 7,100 shares during the period. Handelsbanken Fonder AB’s holdings in CubeSmart were worth $2,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 673 shares during the period. Blue Trust Inc. raised its position in shares of CubeSmart by 74.9% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 289 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $33,000. UMB Bank n.a. raised its position in shares of CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $59,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CUBE shares. Barclays cut their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Scotiabank cut their price target on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Jefferies Financial Group downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and cut their price target for the company from $57.00 to $46.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a research note on Friday, January 10th. Finally, Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and lowered their target price for the stock from $50.00 to $47.00 in a research note on Friday, January 17th. Seven investment 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, CubeSmart presently has an average rating of “Hold” and a consensus price target of $49.18.

CubeSmart Price Performance

Shares of CUBE opened at $42.16 on Tuesday. The stock has a market capitalization of $9.53 billion, a P/E ratio of 23.82, a P/E/G ratio of 11.58 and a beta of 0.87. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a 50 day moving average of $41.93 and a 200-day moving average of $47.19. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.52 per share. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Thursday, January 2nd. CubeSmart’s dividend payout ratio (DPR) is currently 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.