Foster & Motley Inc. Sells 9,840 Shares of CubeSmart (NYSE:CUBE)

Foster & Motley Inc. reduced its position in shares of CubeSmart (NYSE:CUBE) by 68.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,532 shares of the real estate investment trust’s stock after selling 9,840 shares during the quarter. Foster & Motley Inc.’s holdings in CubeSmart were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 292 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in CubeSmart in the 4th quarter worth $37,000. Private Trust Co. NA raised its holdings in CubeSmart by 182.9% in the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 898 shares in the last quarter. Covestor Ltd raised its holdings in CubeSmart by 65.8% in the 3rd quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 573 shares in the last quarter. Finally, ZRC Wealth Management LLC bought a new position in CubeSmart in the 4th quarter worth $104,000. 97.61% of the stock is currently owned by institutional investors.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $41.38 on Friday. The firm’s 50 day moving average price is $43.81 and its 200-day moving average price is $42.26. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $9.31 billion, a PE ratio of 22.86 and a beta of 0.69.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Thursday, March 28th. CubeSmart’s dividend payout ratio (DPR) is presently 112.71%.

Wall Street Analysts Forecast Growth

CUBE has been the subject of several research reports. Evercore ISI increased 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. Barclays began coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective on the stock. Raymond James reissued an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Truist Financial increased their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.33.

CubeSmart Company 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.