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

CubeSmart (NYSE:CUBE) insider Jeffrey Foster sold 23,148 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the sale, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CubeSmart Stock Performance

NYSE CUBE opened at $41.13 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.47 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $38.26 and its two-hundred day moving average is $38.72. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 12.78 and a beta of 1.10. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13.

CubeSmart Announces Dividend

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

Institutional Trading of CubeSmart

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of CubeSmart by 1.3% in the first quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust’s stock valued at $7,429,000 after purchasing an additional 2,284 shares during the period. Jones Financial Companies Lllp increased its stake in shares of CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in CubeSmart by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after purchasing an additional 19,476 shares during the period. Caxton Associates LLP acquired a new position in CubeSmart during the first quarter worth approximately $270,000. Finally, Arkadios Wealth Advisors raised its stake in CubeSmart by 12.3% during the second quarter. Arkadios Wealth Advisors now owns 11,095 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 1,217 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CUBE. Deutsche Bank Aktiengesellschaft downgraded shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Tuesday, January 20th. Wells Fargo & Company reduced their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. KeyCorp reissued a “sector weight” rating on shares of CubeSmart in a report on Monday, November 10th. Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Truist Financial dropped their target price on shares of CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, CubeSmart currently has an average rating of “Hold” and a consensus price target of $44.13.

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.