SG Americas Securities LLC lessened its stake in CubeSmart (NYSE:CUBE) by 31.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,003 shares of the real estate investment trust’s stock after selling 14,038 shares during the period. SG Americas Securities LLC’s holdings in CubeSmart were worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of CubeSmart by 77.5% during the third quarter. JPMorgan Chase & Co. now owns 3,910,336 shares of the real estate investment trust’s stock worth $111,561,000 after purchasing an additional 1,707,863 shares during the period. Teachers Advisors LLC raised its position in shares of CubeSmart by 1.7% during the third quarter. Teachers Advisors LLC now owns 340,579 shares of the real estate investment trust’s stock worth $9,717,000 after purchasing an additional 5,702 shares during the period. Vanguard Group Inc raised its position in shares of CubeSmart by 2.2% during the third quarter. Vanguard Group Inc now owns 28,282,874 shares of the real estate investment trust’s stock worth $806,910,000 after purchasing an additional 603,875 shares during the period. State of Alaska Department of Revenue raised its position in shares of CubeSmart by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 80,509 shares of the real estate investment trust’s stock worth $2,308,000 after purchasing an additional 1,478 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of CubeSmart by 20.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 87,406 shares of the real estate investment trust’s stock worth $2,508,000 after purchasing an additional 14,697 shares during the period.

CUBE has been the topic of a number of research reports. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. ValuEngine lowered CubeSmart from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $30.00 target price on shares of CubeSmart in a research report on Sunday, February 24th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CubeSmart has a consensus rating of “Hold” and an average price target of $32.17.

NYSE CUBE opened at $32.87 on Thursday. The firm has a market capitalization of $6.23 billion, a P/E ratio of 20.04, a P/E/G ratio of 5.76 and a beta of 0.28. CubeSmart has a 12 month low of $27.19 and a 12 month high of $33.21. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.05.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $152.85 million during the quarter, compared to analyst estimates of $154.06 million. CubeSmart had a return on equity of 9.67% and a net margin of 28.02%. CubeSmart’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. Equities analysts expect that CubeSmart will post 1.67 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Friday, June 28th. CubeSmart’s payout ratio is currently 78.05%.

In other CubeSmart news, VP Jeffrey P. Foster sold 5,958 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.55, for a total value of $193,932.90. Following the completion of the transaction, the vice president now owns 124,739 shares in the company, valued at approximately $4,060,254.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy M. Martin sold 60,207 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.51, for a total value of $1,897,122.57. Following the completion of the transaction, the chief financial officer now owns 242,443 shares of the company’s stock, valued at approximately $7,639,378.93. The disclosure for this sale can be found here. Insiders sold a total of 177,773 shares of company stock valued at $5,657,530 over the last three months. 1.04% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: This piece was reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/cubesmart-cube-shares-sold-by-sg-americas-securities-llc/3011806.html.

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 secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Read More: Compound Interest and Why It Matters When Investing

Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBE).

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.