Zacks Investment Research lowered shares of CubeSmart (NYSE:CUBE) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “CubeSmart is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. Its self storage facilities are designed to offer storage space for residential and commercial customers. CubeSmart, formally known as U-Store-It Trust, is based in Wayne, Pennsylvania. “

CUBE has been the topic of several other reports. B. Riley set a $32.00 target price on CubeSmart and gave the stock a buy rating in a research report on Tuesday, November 14th. FBR & Co reaffirmed a buy rating and issued a $32.00 target price on shares of CubeSmart in a research report on Friday, October 27th. Cantor Fitzgerald reaffirmed a buy rating and issued a $28.00 target price on shares of CubeSmart in a research report on Thursday, October 26th. Jefferies Group reaffirmed a buy rating and issued a $30.00 target price on shares of CubeSmart in a research report on Tuesday, October 24th. Finally, BidaskClub raised CubeSmart from a hold rating to a buy rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $29.00.

Shares of CubeSmart (CUBE) traded down $0.38 on Tuesday, reaching $28.54. The company had a trading volume of 1,433,500 shares, compared to its average volume of 1,230,550. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The company has a market capitalization of $5,240.00, a PE ratio of 43.91, a PEG ratio of 3.55 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.07 and a quick ratio of 0.07.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 4.20%. CubeSmart’s dividend payout ratio (DPR) is currently 166.15%.

In other news, CEO Christopher P. Marr sold 6,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.33, for a total transaction of $175,980.00. Following the transaction, the chief executive officer now directly owns 410,138 shares of the company’s stock, valued at $12,029,347.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan L. Perry sold 20,270 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $29.37, for a total value of $595,329.90. Following the transaction, the senior vice president now directly owns 67,197 shares in the company, valued at $1,973,575.89. The disclosure for this sale can be found here. Insiders sold 167,425 shares of company stock worth $4,915,172 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Cohen & Steers Inc. grew its holdings in CubeSmart by 349.3% during the third quarter. Cohen & Steers Inc. now owns 13,828,409 shares of the real estate investment trust’s stock worth $358,985,000 after acquiring an additional 10,750,476 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of CubeSmart by 43,425.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,094,592 shares of the real estate investment trust’s stock valued at $184,176,000 after purchasing an additional 7,078,292 shares during the period. Cbre Clarion Securities LLC boosted its position in shares of CubeSmart by 62.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,324,509 shares of the real estate investment trust’s stock valued at $152,041,000 after purchasing an additional 2,423,464 shares during the period. American Century Companies Inc. acquired a new position in shares of CubeSmart in the 3rd quarter valued at $47,549,000. Finally, Citadel Advisors LLC boosted its position in CubeSmart by 287.3% during the 3rd quarter. Citadel Advisors LLC now owns 1,564,845 shares of the real estate investment trust’s stock worth $40,623,000 after acquiring an additional 1,160,777 shares during the period.

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CubeSmart Company Profile

CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.

Analyst Recommendations for CubeSmart (NYSE:CUBE)

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