Investors Buy Shares of CubeSmart (CUBE) on Weakness

Traders purchased shares of CubeSmart (NYSE:CUBE) on weakness during trading hours on Wednesday. $14.79 million flowed into the stock on the tick-up and $8.39 million flowed out of the stock on the tick-down, for a money net flow of $6.40 million into the stock. Of all equities tracked, CubeSmart had the 28th highest net in-flow for the day. CubeSmart traded down ($0.43) for the day and closed at $26.05

A number of research firms have recently issued reports on CUBE. B. Riley reissued a “buy” rating on shares of CubeSmart in a research report on Wednesday, November 1st. SunTrust Banks set a $31.00 price target on CubeSmart and gave the stock a “hold” rating in a research report on Monday, January 22nd. BidaskClub raised CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Robert W. Baird reissued a “buy” rating and set a $27.00 price target on shares of CubeSmart in a research report on Tuesday, October 17th. Finally, Jefferies Group set a $33.00 price target on CubeSmart and gave the stock a “buy” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. CubeSmart presently has a consensus rating of “Hold” and a consensus target price of $29.55.

The firm has a market capitalization of $4,710.00, a PE ratio of 40.08, a price-to-earnings-growth ratio of 2.85 and a beta of 0.13. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Thursday, March 29th. CubeSmart’s payout ratio is currently 184.62%.

In related news, SVP Jonathan L. Perry sold 20,270 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $29.37, for a total transaction of $595,329.90. Following the sale, the senior vice president now owns 67,197 shares of the company’s stock, valued at $1,973,575.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher P. Marr sold 6,000 shares of the firm’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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,425 shares of company stock worth $4,915,172. 1.20% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its stake in CubeSmart by 2.9% in the third quarter. Prudential Financial Inc. now owns 3,051,854 shares of the real estate investment trust’s stock valued at $79,226,000 after buying an additional 84,926 shares during the last quarter. AMP Capital Investors Ltd raised its stake in CubeSmart by 77.8% in the third quarter. AMP Capital Investors Ltd now owns 113,841 shares of the real estate investment trust’s stock valued at $2,955,000 after buying an additional 49,800 shares during the last quarter. JPMorgan Chase & Co. raised its stake in CubeSmart by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 3,938,960 shares of the real estate investment trust’s stock valued at $102,453,000 after buying an additional 293,101 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in CubeSmart by 4.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,661,835 shares of the real estate investment trust’s stock valued at $69,101,000 after buying an additional 114,753 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in CubeSmart by 16.2% in the third quarter. Wells Fargo & Company MN now owns 222,316 shares of the real estate investment trust’s stock valued at $5,771,000 after buying an additional 31,064 shares during the last quarter.

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About CubeSmart

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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