CubeSmart (NYSE:CUBE) CFO Timothy M. Martin sold 57,746 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $29.41, for a total transaction of $1,698,309.86. Following the sale, the chief financial officer now owns 211,694 shares of the company’s stock, valued at approximately $6,225,920.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CubeSmart (NYSE CUBE) traded down $0.03 during trading hours on Thursday, reaching $27.68. 2,003,556 shares of the company’s stock were exchanged, compared to its average volume of 1,458,719. 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 company has a market capitalization of $5,010.00, a price-to-earnings ratio of 42.58, a PEG ratio of 3.45 and a beta of 0.22. CubeSmart has a 12-month low of $22.83 and a 12-month high of $29.79.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.30 dividend. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Friday, December 29th. CubeSmart’s dividend payout ratio (DPR) is 184.62%.
Several hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its position in shares of CubeSmart by 0.9% in the second quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock valued at $404,000 after acquiring an additional 155 shares during the period. D.A. Davidson & CO. boosted its position in shares of CubeSmart by 1.6% in the second quarter. D.A. Davidson & CO. now owns 10,401 shares of the real estate investment trust’s stock valued at $250,000 after acquiring an additional 164 shares during the period. Commonwealth Bank of Australia boosted its position in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 283 shares during the period. GAM Holding AG boosted its position in shares of CubeSmart by 2.5% in the second quarter. GAM Holding AG now owns 15,359 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 369 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 370 shares during the period.
A number of analysts recently issued reports on the stock. BidaskClub upgraded shares of CubeSmart from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Jefferies Group restated a “buy” rating and set a $30.00 price objective on shares of CubeSmart in a report on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and set a $25.00 price objective on shares of CubeSmart in a report on Friday, October 27th. Zacks Investment Research upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, December 18th. Finally, B. Riley set a $32.00 target price on shares of CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $29.00.
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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.
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