CubeSmart $CUBE Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of CubeSmart (NYSE:CUBE) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,527 shares of the real estate investment trust’s stock after selling 14,753 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CubeSmart were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Quarterback LLC increased its stake in shares of CubeSmart by 31.7% during the 4th quarter. Wealth Quarterback LLC now owns 12,070 shares of the real estate investment trust’s stock valued at $435,000 after acquiring an additional 2,902 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of CubeSmart during the 4th quarter worth about $301,000. Pensionfund Sabic acquired a new stake in shares of CubeSmart in the fourth quarter worth approximately $854,000. Pensionfund PDN purchased a new stake in CubeSmart in the fourth quarter valued at approximately $1,759,000. Finally, SG Americas Securities LLC grew its holdings in CubeSmart by 3,255.9% in the fourth quarter. SG Americas Securities LLC now owns 739,382 shares of the real estate investment trust’s stock valued at $26,655,000 after purchasing an additional 717,350 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Up 0.1%

Shares of NYSE:CUBE opened at $37.23 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.24. CubeSmart has a 52-week low of $34.24 and a 52-week high of $44.13. The company has a 50 day moving average of $38.48 and a two-hundred day moving average of $38.29. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 25.68 and a beta of 1.13.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.

Wall Street Analysts Forecast Growth

CUBE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of CubeSmart from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Barclays upped their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Royal Bank Of Canada raised their price objective on CubeSmart from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, Truist Financial reduced their price objective on CubeSmart from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.64.

Insiders Place Their Bets

In related news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the sale, the insider owned 205,057 shares of the company’s stock, valued at $8,411,438.14. The trade was a 10.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.69% of the company’s stock.

About CubeSmart

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.