CubeSmart $CUBE Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC cut its stake in CubeSmart by 71.9% in Q4, selling 65,261 shares and leaving 25,530 shares valued at about $920,000.
• CubeSmart announced a quarterly dividend of $0.53 (annualized $2.12) with an ex-dividend date of April 1, representing a 5.7% yield and a payout ratio of 146.21%.
• Analysts have a consensus rating of "Hold" (six Buys, ten Holds) with an average price target of $43.64; the stock trades near $37.23 and has a market cap of $8.46 billion.

Exchange Traded Concepts LLC reduced its holdings in CubeSmart (NYSE:CUBE - Free Report) by 71.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,530 shares of the real estate investment trust's stock after selling 65,261 shares during the quarter. Exchange Traded Concepts LLC's holdings in CubeSmart were worth $920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CUBE. Royal Bank of Canada lifted its position in shares of CubeSmart by 1.3% during the 1st quarter. Royal Bank of Canada now owns 173,960 shares of the real estate investment trust's stock valued at $7,429,000 after acquiring an additional 2,284 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CubeSmart by 944.3% during the first quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust's stock valued at $303,000 after purchasing an additional 6,412 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of CubeSmart by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust's stock valued at $20,684,000 after purchasing an additional 19,476 shares during the period. Caxton Associates LLP acquired a new stake in CubeSmart during the 1st quarter worth about $270,000. Finally, Cetera Investment Advisers lifted its stake in CubeSmart by 1.6% during the second quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust's stock valued at $731,000 after buying an additional 265 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $37.23 on Friday. 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 has a one year low of $34.24 and a one year high of $44.13. The business's 50-day moving average price is $38.48 and its two-hundred day moving average price is $38.31. The company has a market capitalization of $8.46 billion, a P/E ratio of 25.68 and a beta of 1.13.

CubeSmart Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart's dividend payout ratio (DPR) is presently 146.21%.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.69% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CUBE. Mizuho cut their price target 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 raised their target price on CubeSmart from $43.00 to $46.00 and gave the stock an "outperform" rating in a research report on Monday, March 2nd. UBS Group dropped their price target on CubeSmart from $38.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, January 8th. Wolfe Research lowered CubeSmart from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. Finally, Wells Fargo & Company reduced their price target on shares of CubeSmart from $44.00 to $40.00 and set an "equal weight" rating for the company in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $43.64.

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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