Davidson Investment Advisors Decreases Position in CubeSmart $CUBE

Key Points

• Davidson Investment Advisors cut its stake in CubeSmart by 7.4% in Q4 (sold 33,950 shares) and now owns 426,074 shares valued at about $15.36 million, while institutional investors hold roughly 97.61% of the company.
• CubeSmart recently paid a quarterly dividend of $0.53 (annualized $2.12) for a 5.3% yield, but the dividend payout ratio is very high at 146.21%, signaling potential sustainability concerns.
• Analyst sentiment is mixed with a consensus rating of "Hold" and an average price target of $43.57, following several recent downgrades and a few upward target revisions.

Davidson Investment Advisors cut its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,074 shares of the real estate investment trust's stock after selling 33,950 shares during the period. Davidson Investment Advisors owned 0.19% of CubeSmart worth $15,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new stake in shares of CubeSmart in the third quarter worth approximately $28,000. Private Trust Co. NA raised 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 during the period. Geneos Wealth Management Inc. raised its holdings in shares of 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 buying an additional 568 shares during the period. Huntington National Bank raised its holdings in shares of 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 buying an additional 295 shares during the period. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of CubeSmart in the third quarter worth approximately $42,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

CubeSmart Stock Down 0.0%

Shares of NYSE CUBE opened at $39.80 on Monday. 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 stock has a market capitalization of $9.07 billion, a PE ratio of 27.45 and a beta of 1.13. The stock's fifty day simple moving average is $38.66 and its two-hundred day simple moving average is $38.16. CubeSmart has a 12-month low of $35.09 and a 12-month high of $44.13.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, April 1st. CubeSmart's dividend payout ratio (DPR) is 146.21%.

Analyst Ratings Changes

CUBE has been the topic of several recent analyst reports. Wolfe Research downgraded CubeSmart from an "outperform" rating to a "peer perform" rating in a report on Monday, January 26th. Barclays increased their price target on CubeSmart from $43.00 to $45.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Wall Street Zen downgraded CubeSmart from a "hold" rating to a "sell" rating in a report on Sunday, March 1st. Deutsche Bank Aktiengesellschaft downgraded CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 price target on the stock. in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada increased their price target on CubeSmart from $43.00 to $46.00 and gave the stock an "outperform" rating in a report on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and an average price target of $43.57.

Insider Transactions at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.76% of the company's stock.

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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