Key Points
- Jeffrey Foster sold 23,148 shares on March 3 at an average price of $41.02 for roughly $949,531, reducing his stake by 10.14% to 205,057 shares valued at about $8.41 million.
- CubeSmart announced a quarterly dividend of $0.53 per share (ex-dividend Apr 1, payable Apr 15), implying a 5.2% yield but a high payout ratio of 146.21%.
- Analysts are mixed: the consensus rating is Hold with a $44.13 target price, based on five Buy and eleven Hold recommendations.
CubeSmart (NYSE:CUBE - Get Free Report) insider Jeffrey Foster sold 23,148 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the sale, the insider owned 205,057 shares of the company's stock, valued at $8,411,438.14. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CubeSmart Stock Performance
NYSE CUBE opened at $41.13 on Thursday. The business's 50-day simple moving average is $38.26 and its 200-day simple moving average is $38.72. The firm has a market capitalization of $9.34 billion, a P/E ratio of 28.37, a P/E/G ratio of 12.78 and a beta of 1.10. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.47.
CubeSmart Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued 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 payout ratio is presently 146.21%.
Wall Street Analyst Weigh In
CUBE has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their price objective on CubeSmart from $43.00 to $46.00 and gave the stock an "outperform" rating in a research note on Monday. Mizuho reduced their price target on CubeSmart from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a research report on Tuesday, January 20th. Wolfe Research lowered shares of CubeSmart from an "outperform" rating to a "peer perform" rating in a report on Monday, January 26th. Finally, Truist Financial decreased their price objective on shares of CubeSmart from $48.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, December 16th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus target price of $44.13.
View Our Latest Stock Report on CUBE
Hedge Funds Weigh In On CubeSmart
Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its holdings in CubeSmart by 252.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,306 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 935 shares during the last quarter. Kera Capital Partners Inc. lifted its stake in CubeSmart by 42.0% during the fourth quarter. Kera Capital Partners Inc. now owns 10,423 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 3,081 shares during the last quarter. Invesco Ltd. raised its holdings in shares of CubeSmart by 8.2% during the fourth quarter. Invesco Ltd. now owns 3,297,286 shares of the real estate investment trust's stock worth $118,867,000 after purchasing an additional 251,022 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of CubeSmart in the 4th quarter valued at about $387,000. Finally, XTX Topco Ltd grew its position in shares of CubeSmart by 524.3% during the 4th quarter. XTX Topco Ltd now owns 99,219 shares of the real estate investment trust's stock valued at $3,577,000 after buying an additional 83,326 shares during the last quarter. Institutional investors own 97.61% of the company's stock.
About CubeSmart
(
Get Free Report)
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.
Further Reading
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