1834 Investment Advisors Co. Sells 49,918 Shares of CubeSmart $CUBE

Key Points

• 1834 Investment Advisors cut its stake in CubeSmart by 83%, selling 49,918 shares in the fourth quarter and now holds 10,207 shares valued at about $368,000.
• CubeSmart paid a quarterly dividend of $0.53 (annualized $2.12), implying a 5.4% yield but with a very high dividend payout ratio of 146.21%.
• Insider Jeffrey P. Foster sold 23,148 shares at an average price of $41.02 on March 3, reducing his position by 10.14%; company insiders now own 1.76% of the stock.

1834 Investment Advisors Co. cut its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 83.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,207 shares of the real estate investment trust's stock after selling 49,918 shares during the period. 1834 Investment Advisors Co.'s holdings in CubeSmart were worth $368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wiser Advisor Group LLC purchased a new stake in CubeSmart during the third quarter valued at $28,000. Private Trust Co. NA increased its holdings in CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 478 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 568 shares during the last quarter. Huntington National Bank raised its position in CubeSmart by 43.3% in the third quarter. Huntington National Bank now owns 977 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 295 shares during the period. Finally, SJS Investment Consulting Inc. bought a new position in CubeSmart in the third quarter worth approximately $42,000. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CUBE shares. BNP Paribas Exane raised shares of CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 price objective for the company in a research report on Wednesday, March 18th. Barclays raised 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. Scotiabank upgraded CubeSmart to a "hold" rating in a research report on Thursday, March 19th. Wall Street Zen lowered CubeSmart from a "hold" rating to a "sell" rating in a report on Sunday, March 1st. Finally, UBS Group reduced their price target on CubeSmart from $38.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $43.57.

CubeSmart Stock Performance

CUBE opened at $39.05 on Tuesday. The firm has a market cap of $8.90 billion, a P/E ratio of 26.93 and a beta of 1.13. CubeSmart has a 1-year low of $35.09 and a 1-year high of $44.13. The company has a 50 day simple moving average of $38.77 and a two-hundred day simple moving average of $38.13. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.53 per share. The ex-dividend date was Wednesday, April 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. CubeSmart's dividend payout ratio (DPR) is currently 146.21%.

Insider Transactions at CubeSmart

In related news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart 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 sale, the insider owned 205,057 shares of the company's stock, valued at approximately $8,411,438.14. This trade represents 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 link. Company insiders own 1.76% of the company's stock.

CubeSmart 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.

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