CubeSmart $CUBE Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of CubeSmart (NYSE:CUBE) by 3,255.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 739,382 shares of the real estate investment trust’s stock after acquiring an additional 717,350 shares during the period. SG Americas Securities LLC’s holdings in CubeSmart were worth $26,655,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CUBE. Wiser Advisor Group LLC acquired a new position in shares of CubeSmart during the third quarter valued at $28,000. Private Trust Co. NA lifted its holdings in 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 period. Geneos Wealth Management Inc. lifted its holdings in 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 period. Huntington National Bank grew its position in CubeSmart by 43.3% in the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in CubeSmart in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the business’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 owned 205,057 shares in the company, valued at approximately $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.69% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $36.19 on Friday. The stock’s fifty day simple moving average is $38.77 and its 200 day simple moving average is $38.49. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 24.96 and a beta of 1.10. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 5.9%. CubeSmart’s dividend payout ratio (DPR) is currently 146.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CUBE shares. Wells Fargo & Company dropped their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Tuesday, January 20th. BNP Paribas Exane upgraded shares of CubeSmart from a “neutral” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Wednesday, March 18th. Barclays boosted their target price on CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Finally, Scotiabank upgraded CubeSmart to a “hold” rating in a research report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.