Teachers Advisors LLC Increases Holdings in CubeSmart (CUBE)

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Teachers Advisors LLC boosted its stake in CubeSmart (NYSE:CUBE) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 340,579 shares of the real estate investment trust’s stock after acquiring an additional 5,702 shares during the period. Teachers Advisors LLC owned 0.18% of CubeSmart worth $9,717,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of CubeSmart by 2.0% in the third quarter. BlackRock Inc. now owns 13,896,899 shares of the real estate investment trust’s stock valued at $396,479,000 after buying an additional 267,274 shares in the last quarter. Alliancebernstein L.P. increased its stake in CubeSmart by 170.7% in the third quarter. Alliancebernstein L.P. now owns 9,565,516 shares of the real estate investment trust’s stock valued at $272,904,000 after purchasing an additional 6,031,338 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CubeSmart by 77.5% in the third quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock valued at $111,561,000 after purchasing an additional 1,707,863 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CubeSmart by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,816,976 shares of the real estate investment trust’s stock valued at $80,367,000 after purchasing an additional 9,755 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in CubeSmart by 1.6% during the third quarter. Brookfield Asset Management Inc. now owns 2,713,300 shares of the real estate investment trust’s stock worth $77,410,000 after acquiring an additional 42,500 shares during the last quarter.

Shares of CubeSmart stock traded up $0.02 on Monday, reaching $31.36. 197,777 shares of the company were exchanged, compared to its average volume of 1,170,777. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.11 and a beta of 0.31. CubeSmart has a 1-year low of $25.34 and a 1-year high of $33.18.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from CubeSmart’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, December 31st. CubeSmart’s dividend payout ratio is presently 80.50%.

Several brokerages have recently weighed in on CUBE. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 target price on shares of CubeSmart in a research report on Thursday, October 25th. Zacks Investment Research upgraded CubeSmart from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. Bank of America upgraded CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 price objective on the stock in a research note on Thursday, November 15th. Finally, ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a research report on Tuesday, November 20th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. CubeSmart presently has an average rating of “Buy” and an average target price of $31.91.

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About CubeSmart

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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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