BTIM Corp. Buys 145,853 Shares of CubeSmart (CUBE)

BTIM Corp. lifted its stake in CubeSmart (NYSE:CUBE) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 713,311 shares of the real estate investment trust’s stock after purchasing an additional 145,853 shares during the quarter. BTIM Corp.’s holdings in CubeSmart were worth $20,629,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prudential Financial Inc. increased its holdings in shares of 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 purchasing an additional 84,926 shares during the last quarter. Northern Trust Corp increased its stake in CubeSmart by 7.0% during the second quarter. Northern Trust Corp now owns 1,747,835 shares of the real estate investment trust’s stock worth $42,018,000 after acquiring an additional 113,864 shares during the last quarter. Numeric Investors LLC acquired a new stake in CubeSmart during the second quarter worth $1,231,000. AMP Capital Investors Ltd increased its stake in CubeSmart by 77.8% during the third quarter. AMP Capital Investors Ltd now owns 113,841 shares of the real estate investment trust’s stock worth $2,955,000 after acquiring an additional 49,800 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in CubeSmart by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 3,938,960 shares of the real estate investment trust’s stock worth $102,453,000 after acquiring an additional 293,101 shares during the last quarter.

In other news, CEO Christopher P. Marr sold 6,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $29.33, for a total transaction of $175,980.00. Following the completion of the transaction, the chief executive officer now directly owns 410,138 shares in the company, valued at $12,029,347.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jonathan L. Perry sold 20,270 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.37, for a total value of $595,329.90. Following the transaction, the senior vice president now owns 67,197 shares of the company’s stock, valued at $1,973,575.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,425 shares of company stock valued at $4,915,172. Company insiders own 1.20% of the company’s stock.

Several equities research analysts have issued reports on CUBE shares. B. Riley set a $32.00 target price on CubeSmart and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, December 18th. Jefferies Group set a $33.00 target price on CubeSmart and gave the stock a “buy” rating in a research note on Tuesday, November 28th. FBR & Co reissued a “buy” rating and set a $32.00 target price on shares of CubeSmart in a research note on Friday, October 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $28.00 target price on shares of CubeSmart in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. CubeSmart presently has an average rating of “Hold” and an average price target of $29.55.

CubeSmart (NYSE:CUBE) opened at $27.08 on Tuesday. CubeSmart has a 52-week low of $22.83 and a 52-week high of $29.79. The company has a market capitalization of $4,900.00, a price-to-earnings ratio of 41.66, a PEG ratio of 3.36 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.07 and a current ratio of 0.07.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.30 per share. This is a positive change from CubeSmart’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, December 29th. CubeSmart’s dividend payout ratio (DPR) is currently 184.62%.

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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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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