Lighthouse Investment Partners LLC Sells 43,200 Shares of CubeSmart $CUBE

Lighthouse Investment Partners LLC reduced its stake in shares of CubeSmart (NYSE:CUBE) by 20.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,000 shares of the real estate investment trust’s stock after selling 43,200 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in CubeSmart were worth $6,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CUBE. Private Trust Co. NA lifted its holdings 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 buying an additional 478 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 568 shares during the last quarter. Huntington National Bank grew its stake in CubeSmart by 43.3% during the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 295 shares in the last quarter. SJS Investment Consulting Inc. purchased a new position in CubeSmart during the third quarter valued at $42,000. Finally, Avalon Trust Co bought a new stake in CubeSmart in the 3rd quarter valued at $51,000. Institutional investors own 97.61% of the company’s stock.

Insider Activity

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at $8,411,438.14. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.69% of the stock is owned by company insiders.

CubeSmart Price Performance

CubeSmart stock opened at $38.84 on Tuesday. CubeSmart has a 12-month low of $34.24 and a 12-month high of $44.13. 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 firm has a 50-day moving average price of $38.82 and a 200-day moving average price of $38.66. The firm has a market capitalization of $8.82 billion, a PE ratio of 26.79 and a beta of 1.10.

CubeSmart Announces Dividend

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 paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.12 annualized dividend and a yield of 5.5%. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Analyst Ratings Changes

Several analysts have commented on CUBE shares. Royal Bank Of Canada boosted their price target 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. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Tuesday, January 20th. Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. UBS Group reduced their price objective on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Truist Financial lowered their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and an average price target of $43.86.

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.