Empire Life Investments Inc. grew its holdings in shares of CubeSmart (NYSE:CUBE) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,839 shares of the real estate investment trust’s stock after buying an additional 483 shares during the quarter. Empire Life Investments Inc.’s holdings in CubeSmart were worth $454,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in CUBE. We Are One Seven LLC bought a new position in CubeSmart during the 4th quarter valued at about $50,000. Oppenheimer Asset Management Inc. bought a new position in CubeSmart during the 4th quarter valued at about $119,000. First Hawaiian Bank bought a new position in CubeSmart during the 3rd quarter valued at about $199,000. Shelton Capital Management bought a new position in CubeSmart during the 4th quarter valued at about $220,000. Finally, Alps Advisors Inc. bought a new position in CubeSmart during the 3rd quarter valued at about $223,000.
Shares of CUBE stock opened at $31.34 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 3.11 and a beta of 0.31. CubeSmart has a one year low of $25.34 and a one year high of $33.18.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd were paid a $0.32 dividend. This is an increase from CubeSmart’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Monday, December 31st. CubeSmart’s dividend payout ratio is currently 80.50%.
CUBE has been the topic of several analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $30.00 price target on shares of CubeSmart in a report on Thursday, October 25th. Zacks Investment Research upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday, December 11th. ValuEngine upgraded shares of CubeSmart from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Finally, Bank of America upgraded shares of CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price target on the stock in a report on Thursday, November 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CubeSmart presently has a consensus rating of “Buy” and an average target price of $31.91.
CubeSmart Company 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 secure storage space for residential and commercial customers. According to the 2018 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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