Venturi Wealth Management LLC Boosts Stake in CubeSmart (NYSE:CUBE)

Venturi Wealth Management LLC raised its holdings in CubeSmart (NYSE:CUBE) by 1,195.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,072 shares of the real estate investment trust’s stock after acquiring an additional 1,912 shares during the period. Venturi Wealth Management LLC’s holdings in CubeSmart were worth $89,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CUBE. Geode Capital Management LLC grew its position in CubeSmart by 1.1% during the third quarter. Geode Capital Management LLC now owns 4,593,010 shares of the real estate investment trust’s stock valued at $247,295,000 after acquiring an additional 50,340 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CubeSmart by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,032,885 shares of the real estate investment trust’s stock valued at $163,260,000 after purchasing an additional 135,211 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of CubeSmart by 2.0% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,201,129 shares of the real estate investment trust’s stock valued at $118,487,000 after purchasing an additional 42,994 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CubeSmart by 326.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,676,177 shares of the real estate investment trust’s stock worth $90,229,000 after purchasing an additional 1,282,995 shares during the period. Finally, Wellington Management Group LLP lifted its stake in CubeSmart by 13.9% in the third quarter. Wellington Management Group LLP now owns 929,707 shares of the real estate investment trust’s stock worth $50,046,000 after purchasing an additional 113,422 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBE has been the topic of a number of recent research reports. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Friday, January 17th. Scotiabank reduced their price target on 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 lowered CubeSmart from a “buy” rating to a “hold” rating and dropped their price objective for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Barclays dropped their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $49.18.

CubeSmart Price Performance

CUBE stock opened at $41.82 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. The firm has a 50-day moving average of $42.01 and a 200 day moving average of $47.23. The company has a market cap of $9.46 billion, a P/E ratio of 23.63, a PEG ratio of 11.58 and a beta of 0.87.

CubeSmart Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Thursday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio (DPR) is presently 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.