Janus Henderson Group PLC Grows Stock Holdings in CubeSmart (NYSE:CUBE)

Janus Henderson Group PLC lifted its position in CubeSmart (NYSE:CUBE) by 1,575.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,820,434 shares of the real estate investment trust’s stock after buying an additional 1,711,762 shares during the quarter. Janus Henderson Group PLC owned approximately 0.81% of CubeSmart worth $82,277,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after purchasing an additional 1,205,097 shares in the last quarter. BOKF NA boosted its position in CubeSmart by 4.5% in the 1st quarter. BOKF NA now owns 64,008 shares of the real estate investment trust’s stock valued at $2,882,000 after buying an additional 2,782 shares during the period. 1832 Asset Management L.P. boosted its position in CubeSmart by 1.8% in the 1st quarter. 1832 Asset Management L.P. now owns 169,165 shares of the real estate investment trust’s stock valued at $7,650,000 after buying an additional 2,931 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of CubeSmart in the first quarter worth $1,311,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of CubeSmart by 6.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 411,028 shares of the real estate investment trust’s stock worth $18,583,000 after acquiring an additional 24,144 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Raymond James boosted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. BMO Capital Markets downgraded CubeSmart from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. Finally, Evercore ISI boosted their target price on CubeSmart from $44.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.36.

CubeSmart Stock Performance

Shares of CubeSmart stock traded down $0.67 during trading on Wednesday, reaching $48.06. The company’s stock had a trading volume of 298,958 shares, compared to its average volume of 1,367,007. CubeSmart has a fifty-two week low of $33.17 and a fifty-two week high of $49.58. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.81 billion, a PE ratio of 27.07, a P/E/G ratio of 8.34 and a beta of 0.80. The company has a 50-day moving average price of $44.80 and a two-hundred day moving average price of $44.03.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.51 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.24%. CubeSmart’s payout ratio is 113.33%.

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, 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.