SG Americas Securities LLC Sells 118,592 Shares of CubeSmart $CUBE

SG Americas Securities LLC reduced its stake in CubeSmart (NYSE:CUBE) by 84.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,032 shares of the real estate investment trust’s stock after selling 118,592 shares during the period. SG Americas Securities LLC’s holdings in CubeSmart were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. True Wealth Design LLC lifted its stake in CubeSmart by 308.2% in the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 524 shares during the last quarter. Private Trust Co. NA grew its stake in shares of CubeSmart by 209.6% during the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 478 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 568 shares in the last quarter. SJS Investment Consulting Inc. bought a new position in shares of CubeSmart in the 3rd quarter valued at $42,000. Finally, IFP Advisors Inc lifted its stake in shares of CubeSmart by 737.2% in the 2nd quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 1,349 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CUBE shares. Mizuho reduced their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. KeyCorp reissued a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a report on Monday, December 8th. Finally, Wall Street Zen downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.73.

CubeSmart Trading Up 1.3%

Shares of CUBE stock opened at $39.64 on Tuesday. CubeSmart has a 1-year low of $34.24 and a 1-year high of $44.13. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 8.63 and a beta of 1.11. The stock has a 50-day moving average of $36.65 and a 200-day moving average of $39.13.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Friday, October 31st. The real estate investment trust reported $0.65 EPS for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $285.08 million for the quarter, compared to analyst estimates of $282.57 million. CubeSmart had a return on equity of 12.49% and a net margin of 33.31%.The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s payout ratio is currently 135.90%.

CubeSmart Company Profile

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.