CubeSmart (NYSE:CUBE) Shares Sold by Aew Capital Management L P

Aew Capital Management L P cut its holdings in CubeSmart (NYSE:CUBE) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in CubeSmart in the fourth quarter valued at $28,000. Signaturefd LLC increased its stake in shares of CubeSmart by 72.5% during the fourth quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 292 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of CubeSmart during the fourth quarter worth about $37,000. Covestor Ltd increased its stake in shares of CubeSmart by 65.8% during the third quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 573 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of CubeSmart by 182.9% during the fourth quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 898 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

CubeSmart Price Performance

Shares of NYSE CUBE traded down $0.62 on Friday, hitting $40.76. The company’s stock had a trading volume of 1,160,730 shares, compared to its average volume of 1,474,850. CubeSmart has a 12-month low of $33.17 and a 12-month high of $47.81. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 22.52 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a 50 day moving average of $43.70 and a 200-day moving average of $42.28.

CubeSmart Announces Dividend

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

Wall Street Analysts Forecast Growth

CUBE has been the topic of a number of recent analyst reports. Raymond James reiterated an “outperform” rating and set a $48.00 price target on shares of CubeSmart in a research note on Thursday, March 28th. Barclays initiated coverage on shares of CubeSmart in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price target on the stock. Truist Financial boosted their price target on shares of CubeSmart from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, December 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CubeSmart in a research note on Tuesday, January 30th. They set a “sell” rating and a $40.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CubeSmart presently has an average rating of “Hold” and a consensus target price of $46.33.

CubeSmart Profile

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.