Greenland Capital Management LP Decreases Stock Holdings in CubeSmart $CUBE

Greenland Capital Management LP lessened its stake in CubeSmart (NYSE:CUBE) by 91.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,000 shares of the real estate investment trust’s stock after selling 75,423 shares during the quarter. Greenland Capital Management LP’s holdings in CubeSmart were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CubeSmart during the second quarter worth about $458,008,000. Aew Capital Management L P boosted its holdings in CubeSmart by 164,585.0% in the 2nd quarter. Aew Capital Management L P now owns 658,740 shares of the real estate investment trust’s stock worth $27,996,000 after buying an additional 658,340 shares during the last quarter. Hazelview Securities Inc. purchased a new stake in CubeSmart during the 2nd quarter worth approximately $21,643,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CubeSmart by 13,418.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 429,738 shares of the real estate investment trust’s stock valued at $18,264,000 after acquiring an additional 426,559 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its position in shares of CubeSmart by 4,329.6% in the second quarter. Engineers Gate Manager LP now owns 363,224 shares of the real estate investment trust’s stock valued at $15,437,000 after acquiring an additional 355,024 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Up 0.8%

Shares of CUBE opened at $39.97 on Wednesday. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $37.66 and a two-hundred day simple moving average of $38.65. The company has a market capitalization of $9.11 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 12.16 and a beta of 1.12.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. CubeSmart’s payout ratio is 135.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CUBE. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a research report on Saturday. Truist Financial dropped their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. UBS Group reduced their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wolfe Research lowered shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CubeSmart in a research note on Monday, December 8th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.13.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.