Aew Capital Management L P Has $5.77 Million Stock Position in CubeSmart $CUBE

Aew Capital Management L P lessened its stake in shares of CubeSmart (NYSE:CUBE) by 78.5% during the third quarter, Holdings Channel.com reports. The firm owned 141,870 shares of the real estate investment trust’s stock after selling 516,870 shares during the period. Aew Capital Management L P’s holdings in CubeSmart were worth $5,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings 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 worth $29,000 after acquiring an additional 524 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of CubeSmart by 209.6% in the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 478 shares in the last quarter. Geneos Wealth Management Inc. grew its position in CubeSmart by 174.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 568 shares during the period. SJS Investment Consulting Inc. acquired a new stake in CubeSmart in the 3rd quarter valued at $42,000. Finally, Avalon Trust Co bought a new stake in CubeSmart during the 3rd quarter valued at $51,000. 97.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CUBE has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research note on Monday, November 10th. Barclays decreased their price objective on CubeSmart from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Wolfe Research lowered CubeSmart from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Finally, Mizuho decreased their price target on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.13.

CubeSmart Trading Up 0.8%

NYSE:CUBE opened at $39.97 on Wednesday. CubeSmart has a 12 month low of $34.24 and a 12 month 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 firm’s 50 day moving average is $37.66 and its 200 day moving average is $38.65. The stock has a market capitalization of $9.11 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 12.16 and a beta of 1.12.

CubeSmart Announces Dividend

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

CubeSmart 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.