Voya Investment Management LLC Purchases 16,282 Shares of CubeSmart $CUBE

Voya Investment Management LLC raised its position in CubeSmart (NYSE:CUBE) by 56.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,035 shares of the real estate investment trust’s stock after purchasing an additional 16,282 shares during the period. Voya Investment Management LLC’s holdings in CubeSmart were worth $1,831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in CubeSmart by 50.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,383 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,465 shares during the last quarter. Jump Financial LLC bought a new position in shares of CubeSmart during the 1st quarter worth approximately $824,000. Vident Advisory LLC raised its holdings in shares of CubeSmart by 108.0% in the first quarter. Vident Advisory LLC now owns 13,424 shares of the real estate investment trust’s stock valued at $573,000 after purchasing an additional 6,970 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of CubeSmart in the first quarter worth $537,000. Finally, Caption Management LLC acquired a new position in CubeSmart during the first quarter worth $554,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Trading Up 0.2%

CubeSmart stock opened at $35.91 on Monday. The stock has a 50-day simple moving average of $37.41 and a 200 day simple moving average of $39.76. The stock has a market capitalization of $8.19 billion, a P/E ratio of 23.02, a PEG ratio of 7.96 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. CubeSmart has a 52 week low of $34.24 and a 52 week high of $44.13.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. Analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.9%. CubeSmart’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CUBE shares. UBS Group decreased their target price on shares of CubeSmart from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Mizuho dropped their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft set a $45.00 price target on CubeSmart and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Truist Financial lowered their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $45.25.

About CubeSmart

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.