Creative Planning Grows Stock Holdings in CubeSmart (NYSE:CUBE)

Creative Planning raised its position in shares of CubeSmart (NYSE:CUBE) by 9.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,028 shares of the real estate investment trust’s stock after purchasing an additional 1,340 shares during the period. Creative Planning’s holdings in CubeSmart were worth $724,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of CubeSmart by 11.8% in the first quarter. Covestor Ltd now owns 2,637 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 278 shares during the period. Fifth Third Bancorp increased its holdings in shares of CubeSmart by 14.7% in the second quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 311 shares during the period. Whittier Trust Co. increased its holdings in shares of CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 323 shares during the period. Mirador Capital Partners LP increased its holdings in shares of CubeSmart by 2.7% in the second quarter. Mirador Capital Partners LP now owns 15,627 shares of the real estate investment trust’s stock worth $706,000 after buying an additional 406 shares during the period. Finally, Naples Global Advisors LLC increased its holdings in shares of CubeSmart by 1.9% in the first quarter. Naples Global Advisors LLC now owns 24,735 shares of the real estate investment trust’s stock worth $1,131,000 after buying an additional 460 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 0.2 %

Shares of CUBE stock opened at $49.82 on Friday. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14. The firm has a fifty day moving average price of $51.32 and a 200-day moving average price of $46.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 9.11 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The business had revenue of $266.20 million for the quarter, compared to the consensus estimate of $260.68 million. During the same period in the previous year, the firm earned $0.66 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that CubeSmart will post 2.65 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is presently 114.61%.

Wall Street Analysts Forecast Growth

CUBE has been the topic of several recent analyst reports. Evercore ISI raised their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada initiated coverage on CubeSmart in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $56.00 target price on the stock. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Barclays raised their target price on CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Scotiabank initiated coverage on CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.50.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total transaction of $366,054.70. Following the completion of the transaction, the insider now owns 182,460 shares of the company’s stock, valued at $8,630,358. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeffrey P. Foster sold 7,739 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total transaction of $366,054.70. Following the sale, the insider now directly owns 182,460 shares in the company, valued at approximately $8,630,358. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joel D. Keaton sold 43,478 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the sale, the chief operating officer now owns 87,663 shares in the company, valued at $4,205,194.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,217 shares of company stock valued at $4,244,344 in the last 90 days. Insiders own 1.68% of the company’s stock.

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.