Boston Trust Walden Corp Purchases 29,280 Shares of CubeSmart (NYSE:CUBE)

Boston Trust Walden Corp lifted its position in shares of CubeSmart (NYSE:CUBE) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 906,551 shares of the real estate investment trust’s stock after purchasing an additional 29,280 shares during the quarter. Boston Trust Walden Corp owned 0.40% of CubeSmart worth $38,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CUBE. Quarry LP lifted its holdings in CubeSmart by 19.8% during the third quarter. Quarry LP now owns 1,371 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 227 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of CubeSmart by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 233 shares in the last quarter. HighTower Advisors LLC grew its position in shares of CubeSmart by 0.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,614 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 243 shares during the period. Captrust Financial Advisors increased its stake in CubeSmart by 4.5% during the 3rd quarter. Captrust Financial Advisors now owns 5,734 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 248 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in 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 buying an additional 289 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada lowered their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a “sell” rating to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company boosted their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $49.73.

CubeSmart Trading Down 0.5 %

NYSE CUBE opened at $41.49 on Tuesday. The company has a market cap of $9.38 billion, a PE ratio of 23.44, a PEG ratio of 11.48 and a beta of 0.87. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The stock has a 50 day moving average of $43.76 and a 200-day moving average of $47.81. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from CubeSmart’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 5.01%. CubeSmart’s payout ratio is currently 117.51%.

CubeSmart Profile

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.