Wolverine Asset Management LLC decreased its stake in CubeSmart (NYSE:CUBE) by 89.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,979 shares of the real estate investment trust’s stock after selling 42,917 shares during the period. Wolverine Asset Management LLC’s holdings in CubeSmart were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of CubeSmart by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 370 shares in the last quarter. Amalgamated Bank boosted its position in shares of CubeSmart by 5.9% during the 4th quarter. Amalgamated Bank now owns 35,522 shares of the real estate investment trust’s stock valued at $1,027,000 after purchasing an additional 1,972 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of CubeSmart by 3.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 62,266 shares of the real estate investment trust’s stock valued at $1,616,000 after purchasing an additional 2,182 shares in the last quarter. Stephens Inc. AR boosted its position in shares of CubeSmart by 1.9% during the 3rd quarter. Stephens Inc. AR now owns 127,793 shares of the real estate investment trust’s stock valued at $3,318,000 after purchasing an additional 2,391 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of CubeSmart by 17.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,151 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 2,493 shares in the last quarter.
CubeSmart (CUBE) opened at $28.05 on Friday. The stock has a market capitalization of $5,065.50, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 3.55 and a beta of 0.17. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 1.00. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.79.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.28%. CubeSmart’s dividend payout ratio is presently 160.00%.
Several brokerages recently commented on CUBE. Zacks Investment Research upgraded CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, December 18th. Robert W. Baird lowered CubeSmart from an “outperform” rating to a “neutral” rating and upped their target price for the company from $27.00 to $29.00 in a research report on Tuesday, November 28th. B. Riley set a $32.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Jefferies Group set a $33.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Cantor Fitzgerald set a $31.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.00.
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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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