American Century Companies Inc. lessened its holdings in shares of CubeSmart (NYSE:CUBE) by 40.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,097,038 shares of the real estate investment trust’s stock after selling 734,580 shares during the quarter. American Century Companies Inc. owned approximately 0.61% of CubeSmart worth $31,726,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. Cubist Systematic Strategies LLC acquired a new stake in CubeSmart during the 2nd quarter worth $286,000. The Manufacturers Life Insurance Company boosted its stake in CubeSmart by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 370 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in CubeSmart by 0.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 16,790 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 155 shares during the last quarter. Koch Industries Inc. acquired a new stake in CubeSmart during the 2nd quarter worth $366,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in CubeSmart by 2.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 838,000 shares of the real estate investment trust’s stock worth $21,754,000 after purchasing an additional 20,000 shares during the last quarter.
CUBE has been the topic of several recent research reports. FBR & Co reissued a “buy” rating and set a $32.00 price target on shares of CubeSmart in a research report on Friday, October 27th. B. Riley set a $32.00 price target on shares of CubeSmart and gave the company a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of CubeSmart from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Cantor Fitzgerald reissued a “buy” rating and set a $28.00 price target on shares of CubeSmart in a research report on Thursday, October 26th. Finally, Jefferies Group reissued a “buy” rating and set a $30.00 price target on shares of CubeSmart in a research report on Tuesday, October 24th. 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 target price of $29.55.
In related news, CEO Christopher P. Marr sold 6,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $29.33, for a total value of $175,980.00. Following the sale, the chief executive officer now directly owns 410,138 shares in the company, valued at approximately $12,029,347.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy M. Martin sold 83,409 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $29.32, for a total transaction of $2,445,551.88. Following the completion of the sale, the chief financial officer now owns 228,948 shares in the company, valued at $6,712,755.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,425 shares of company stock worth $4,915,172. 1.20% of the stock is owned by insiders.
CubeSmart (NYSE CUBE) opened at $26.48 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.00. The firm has a market cap of $4,735.48, a PE ratio of 40.12, a PEG ratio of 2.85 and a beta of 0.13. CubeSmart has a 1 year low of $22.83 and a 1 year high of $29.79.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a $0.30 dividend. 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 4.53%. The ex-dividend date was Friday, December 29th. CubeSmart’s payout ratio is 181.82%.
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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.
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