Pensionfund Sabic Buys Shares of 23,700 CubeSmart $CUBE

Pensionfund Sabic bought a new stake in shares of CubeSmart (NYSE:CUBE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,700 shares of the real estate investment trust’s stock, valued at approximately $854,000.

Several other institutional investors and hedge funds have also bought and sold shares of CUBE. Wiser Advisor Group LLC purchased a new stake in CubeSmart during the 3rd quarter valued at about $28,000. Private Trust Co. NA raised its stake in shares of CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of CubeSmart by 174.8% in the second 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 last quarter. Huntington National Bank lifted its holdings in shares of CubeSmart by 43.3% during the third 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. Finally, SJS Investment Consulting Inc. purchased a new stake in CubeSmart in the third quarter valued at approximately $42,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

NYSE:CUBE opened at $36.17 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04. The company has a 50 day moving average price of $38.83 and a 200-day moving average price of $38.51. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 24.95 and a beta of 1.10.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.53 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.9%. CubeSmart’s dividend payout ratio is 146.21%.

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the sale, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group cut their price target on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Mizuho dropped their price objective on shares of CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada increased their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Wolfe Research downgraded shares of CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Wall Street Zen lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.64.

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.