Dimensional Fund Advisors LP Decreases Stock Position in CubeSmart $CUBE

Key Points

• Dimensional Fund Advisors trimmed its CubeSmart stake by 1.1% in Q3, selling 37,610 shares and finishing with 3,284,860 shares (about 1.44% of the company) valued at roughly $133.6 million.
• Insider Jeffrey P. Foster sold 23,148 shares on March 3 at an average price of $41.02 (≈$949,531), reducing his ownership by 10.14%.
• CubeSmart recently announced a quarterly dividend of $0.53 (annualized yield ~5.5%) but with a payout ratio of 146%, and analysts’ consensus is a Hold with an average price target of $44.07.

Dimensional Fund Advisors LP lessened its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,284,860 shares of the real estate investment trust's stock after selling 37,610 shares during the period. Dimensional Fund Advisors LP owned 1.44% of CubeSmart worth $133,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA increased 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 purchasing an additional 478 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake 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 boosted its stake in CubeSmart by 43.3% during the third 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 during the last quarter. SJS Investment Consulting Inc. purchased a new position in CubeSmart during the 3rd quarter valued at approximately $42,000. Finally, Avalon Trust Co purchased a new position in CubeSmart during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CUBE shares. Deutsche Bank Aktiengesellschaft cut CubeSmart from a "buy" rating to a "hold" rating and set a $40.00 price objective on the stock. in a report on Tuesday, January 20th. Mizuho reduced their price target on shares of CubeSmart from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Friday, December 5th. Wells Fargo & Company decreased 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 note on Thursday, February 5th. Wolfe Research lowered shares of CubeSmart from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. Finally, UBS Group dropped their price objective on shares of CubeSmart from $38.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, January 8th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, CubeSmart has an average rating of "Hold" and an average price target of $44.07.

Insider Activity at CubeSmart

In other 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 transaction of $949,530.96. Following the completion of the sale, the insider owned 205,057 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this link. Company insiders own 1.69% of the company's stock.

CubeSmart Trading Down 3.1%

NYSE CUBE opened at $38.72 on Thursday. The stock has a market cap of $8.79 billion, a PE ratio of 26.71 and a beta of 1.10. CubeSmart has a 12 month low of $34.24 and a 12 month high of $44.13. The company's 50-day moving average price is $38.65 and its 200-day moving average price is $38.72. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, April 1st. CubeSmart's dividend payout ratio is currently 146.21%.

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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