CubeSmart $CUBE Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp trimmed its stake in CubeSmart by 13.8% in Q4, selling 160,791 shares and retaining 1,003,184 shares valued at about $36.17 million (0.44% of the company).
• Insider Jeffrey P. Foster sold 23,148 shares on March 3 at an average of $41.02 for roughly $949,531, a 10.14% reduction in his holdings; company insiders now own 1.76% of the stock.
• CubeSmart declared a quarterly dividend of $0.53 (annualized $2.12) for a 5.4% yield

Boston Trust Walden Corp trimmed its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,003,184 shares of the real estate investment trust's stock after selling 160,791 shares during the quarter. Boston Trust Walden Corp owned 0.44% of CubeSmart worth $36,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. Wiser Advisor Group LLC acquired a new position in shares of CubeSmart during the third quarter worth about $28,000. Private Trust Co. NA increased its holdings in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 478 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 568 shares in the last quarter. Huntington National Bank increased its holdings in shares of 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 purchasing an additional 295 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new position in shares of CubeSmart in the 3rd quarter valued at about $42,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wolfe Research downgraded shares of CubeSmart from an "outperform" rating to a "peer perform" rating in a report on Monday, January 26th. Wells Fargo & Company cut their price target on shares of CubeSmart from $40.00 to $39.00 and set an "equal weight" rating for the company in a report on Thursday, April 16th. BNP Paribas Exane upgraded shares of CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 price target for the company in a report on Wednesday, March 18th. Scotiabank upgraded shares of CubeSmart to a "hold" rating in a report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $43.57.

Insider Activity at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart 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 directly 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 SEC, which is available through the SEC website. 1.76% of the stock is currently owned by company insiders.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $39.08 on Thursday. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 26.95 and a beta of 1.13. CubeSmart has a 52 week low of $35.09 and a 52 week high of $44.13. The company's 50-day moving average price is $38.73 and its 200 day moving average price is $38.15. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.24.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.53 per share. The ex-dividend date was Wednesday, April 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. CubeSmart's payout ratio is 146.21%.

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.

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