Insider Selling: CubeSmart (NYSE:CUBE) Insider Sells $949,530.96 in Stock

CubeSmart (NYSE:CUBE) insider Jeffrey Foster sold 23,148 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.02, for a total value of $949,530.96. Following the transaction, the insider directly owned 205,057 shares in the company, valued at approximately $8,411,438.14. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CubeSmart Price Performance

Shares of NYSE CUBE opened at $40.20 on Friday. CubeSmart has a twelve month low of $34.24 and a twelve month high of $44.13. The company has a current ratio of 0.04, a quick ratio of 0.47 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 12.61 and a beta of 1.10. The business has a 50 day simple moving average of $38.44 and a 200-day simple moving average of $38.74.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Institutional Investors Weigh In On CubeSmart

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of CubeSmart by 1.3% in 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 purchasing an additional 2,284 shares during the period. Jones Financial Companies Lllp raised its holdings in CubeSmart by 944.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,091 shares of the real estate investment trust’s stock worth $303,000 after buying an additional 6,412 shares during the period. Goldman Sachs Group Inc. lifted its stake in CubeSmart by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 484,293 shares of the real estate investment trust’s stock valued at $20,684,000 after buying an additional 19,476 shares in the last quarter. Caxton Associates LLP purchased a new stake in CubeSmart during the first quarter valued at about $270,000. Finally, Arkadios Wealth Advisors boosted its holdings in shares of CubeSmart by 12.3% in the second quarter. Arkadios Wealth Advisors now owns 11,095 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 1,217 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CUBE shares. UBS Group lowered their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wolfe Research downgraded CubeSmart from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Truist Financial lowered their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised 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. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.07.

About CubeSmart

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.