Jeffrey Foster Sells 23,148 Shares of CubeSmart (NYSE:CUBE) Stock

CubeSmart (NYSE:CUBE) insider Jeffrey Foster sold 23,148 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the sale, the insider owned 205,057 shares of the company’s stock, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

CubeSmart Stock Performance

NYSE CUBE opened at $40.54 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The business has a 50-day moving average price of $38.36 and a 200-day moving average price of $38.73. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 12.80 and a beta of 1.10.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Analysts Set New Price Targets

Several research firms recently weighed in on CUBE. UBS Group cut their target price on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Tuesday, January 20th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research report on Monday, November 10th. Finally, Barclays increased their price target on CubeSmart from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and an average price target of $44.07.

Institutional Trading of CubeSmart

A number of large investors have recently made changes to their positions in CUBE. Wiser Advisor Group LLC bought a new position in shares of CubeSmart in the 3rd quarter valued at about $28,000. True Wealth Design LLC raised its position in CubeSmart by 308.2% during the second quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the period. Private Trust Co. NA lifted its stake in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 295 shares during the period. 97.61% of the stock is currently owned by institutional investors.

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.