CubeSmart (NYSE:CUBE) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 6,560,000 shares, a drop of 17.6% from the January 15th total of 7,960,000 shares. Based on an average daily volume of 1,830,000 shares, the short-interest ratio is presently 3.6 days. Approximately 3.4% of the company’s shares are sold short.

Several institutional investors have recently modified their holdings of CUBE. Garrett Wealth Advisory Group LLC bought a new stake in CubeSmart during the 3rd quarter valued at about $27,000. Van ECK Associates Corp bought a new stake in CubeSmart during the 4th quarter valued at about $36,000. Signaturefd LLC increased its stake in CubeSmart by 167.0% during the 4th quarter. Signaturefd LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 773 shares in the last quarter. Evoke Wealth LLC bought a new stake in CubeSmart during the 3rd quarter valued at about $45,000. Finally, NEXT Financial Group Inc increased its stake in CubeSmart by 190.0% during the 3rd quarter. NEXT Financial Group Inc now owns 1,450 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 950 shares in the last quarter. Institutional investors own 99.06% of the company’s stock.

Shares of CubeSmart stock traded up $0.52 during trading on Friday, hitting $33.00. The company’s stock had a trading volume of 1,322,300 shares, compared to its average volume of 1,599,490. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.09 and a current ratio of 0.09. The company has a fifty day simple moving average of $31.51 and a two-hundred day simple moving average of $32.96. The company has a market capitalization of $6.20 billion, a PE ratio of 35.48, a P/E/G ratio of 5.68 and a beta of 0.16. CubeSmart has a 52 week low of $29.26 and a 52 week high of $36.32.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.00%. This is a positive change from CubeSmart’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, December 31st. CubeSmart’s dividend payout ratio (DPR) is presently 80.49%.

Several equities research analysts have recently commented on the stock. Raymond James reaffirmed a “buy” rating and issued a $36.00 target price on shares of CubeSmart in a research report on Wednesday. BMO Capital Markets cut shares of CubeSmart from a “market perform” rating to an “underperform” rating and set a $30.00 target price for the company. in a research report on Tuesday, January 7th. Bank of America cut shares of CubeSmart from a “neutral” rating to an “underperform” rating in a research report on Monday, January 6th. Zacks Investment Research raised shares of CubeSmart from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Cfra lowered shares of CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. CubeSmart presently has an average rating of “Hold” and a consensus target price of $33.00.

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 secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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