Pallas Capital Advisors LLC Sells 39,983 Shares of CubeSmart $CUBE

Pallas Capital Advisors LLC lessened its stake in CubeSmart (NYSE:CUBE) by 73.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,818 shares of the real estate investment trust’s stock after selling 39,983 shares during the quarter. Pallas Capital Advisors LLC’s holdings in CubeSmart were worth $534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. grew its stake in CubeSmart by 36.4% during the third quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock worth $174,185,000 after buying an additional 1,143,464 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in shares of CubeSmart by 37.3% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,364,619 shares of the real estate investment trust’s stock valued at $136,805,000 after buying an additional 914,884 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of CubeSmart by 3,255.9% during the 4th quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock worth $26,655,000 after acquiring an additional 717,350 shares during the period. Schroder Investment Management Group bought a new stake in shares of CubeSmart during the 3rd quarter worth approximately $23,516,000. Finally, Hazelview Securities Inc. acquired a new stake in shares of CubeSmart during the 2nd quarter worth approximately $21,643,000. Institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CUBE shares. Wolfe Research cut shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. UBS Group reduced their target price on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wall Street Zen lowered CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Tuesday, January 20th. Finally, Wells Fargo & Company dropped their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.64.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value of $949,530.96. Following the completion of the transaction, the insider directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.69% of the company’s stock.

CubeSmart Stock Performance

NYSE:CUBE opened at $36.62 on Wednesday. The stock has a market cap of $8.32 billion, a P/E ratio of 25.26 and a beta of 1.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average is $38.57 and its 200-day moving average is $38.35. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s payout ratio is presently 146.21%.

CubeSmart Company Profile

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.