CubeSmart (NYSE:CUBE) Holdings Lowered by Aew Capital Management L P

Aew Capital Management L P trimmed its stake in shares of CubeSmart (NYSE:CUBE) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,672 shares of the real estate investment trust’s stock after selling 76,670 shares during the quarter. Aew Capital Management L P’s holdings in CubeSmart were worth $4,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of CubeSmart during the 4th quarter worth about $28,000. Signaturefd LLC raised its position in shares of CubeSmart by 72.5% during the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 292 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of CubeSmart in the 4th quarter worth approximately $37,000. Covestor Ltd raised its holdings in shares of CubeSmart by 65.8% in the 3rd quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 573 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of CubeSmart by 182.9% in the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 898 shares in the last quarter. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $53.00 in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CubeSmart in a report on Tuesday, January 30th. They issued a “sell” rating and a $40.00 target price on the stock. Barclays assumed coverage on shares of CubeSmart in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $48.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of CubeSmart from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Finally, Evercore ISI lifted their target price on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, CubeSmart has an average rating of “Hold” and a consensus target price of $46.33.

CubeSmart Trading Down 1.5 %

Shares of CubeSmart stock traded down $0.62 during trading on Friday, hitting $40.76. The stock had a trading volume of 1,160,730 shares, compared to its average volume of 1,474,850. The stock has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $42.28. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. CubeSmart has a 1 year low of $33.17 and a 1 year high of $47.81. The company has a market capitalization of $9.17 billion, a PE ratio of 22.52 and a beta of 0.69.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Thursday, March 28th. CubeSmart’s payout ratio is 112.71%.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.