Aew Capital Management L P Sells 516,870 Shares of CubeSmart $CUBE

Aew Capital Management L P decreased its position in shares of CubeSmart (NYSE:CUBE) by 78.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,870 shares of the real estate investment trust’s stock after selling 516,870 shares during the quarter. Aew Capital Management L P owned approximately 0.06% of CubeSmart worth $5,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its position in CubeSmart by 308.2% in the second 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 increased its stake in shares of CubeSmart by 209.6% in the third quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 478 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 568 shares during the period. SJS Investment Consulting Inc. bought a new position in CubeSmart in the 3rd quarter valued at approximately $42,000. Finally, Avalon Trust Co acquired a new stake in CubeSmart during the 3rd quarter worth approximately $51,000. Institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Up 0.8%

Shares of CUBE stock opened at $39.97 on Wednesday. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $44.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day simple moving average of $37.66 and a two-hundred day simple moving average of $38.65. The company has a market cap of $9.11 billion, a P/E ratio of 25.62, a PEG ratio of 12.16 and a beta of 1.12.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.53 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. CubeSmart’s payout ratio is currently 135.90%.

Analyst Ratings Changes

Several equities analysts have issued reports on CUBE shares. Royal Bank Of Canada restated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Mizuho decreased their price objective on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Evercore cut their target price on CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Truist Financial reduced their price target on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft cut CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and a consensus price target of $44.13.

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.