CubeSmart (NYSE:CUBE) CFO Timothy M. Martin sold 83,409 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the transaction, the chief financial officer now owns 228,948 shares in the company, valued at approximately $6,712,755.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CubeSmart (CUBE) opened at $29.39 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. The company has a market cap of $5,340.00, a PE ratio of 18.86, a PEG ratio of 3.78 and a beta of 0.22. CubeSmart has a 1-year low of $22.83 and a 1-year high of $29.67.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.30 dividend. The ex-dividend date is Friday, December 29th. This is a boost from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.08%. CubeSmart’s dividend payout ratio is presently 166.15%.

Several hedge funds and other institutional investors have recently bought and sold shares of CUBE. The Manufacturers Life Insurance Company grew its holdings in CubeSmart by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 370 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in CubeSmart by 3.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 283 shares in the last quarter. World Asset Management Inc bought a new position in CubeSmart during the 3rd quarter worth about $200,000. Comerica Bank bought a new position in CubeSmart during the 3rd quarter worth about $220,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in CubeSmart during the 3rd quarter worth about $211,000.

A number of research firms have weighed in on CUBE. Robert W. Baird cut shares of CubeSmart from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $27.00 to $29.00 in a research report on Tuesday, November 28th. B. Riley set a $32.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 14th. BidaskClub upgraded shares of CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Jefferies Group set a $33.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $27.00 price objective on shares of CubeSmart in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CubeSmart currently has a consensus rating of “Hold” and an average target price of $28.60.

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About CubeSmart

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

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