CubeSmart (NYSE:CUBE) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its holdings in shares of CubeSmart (NYSE:CUBE) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,851 shares of the real estate investment trust’s stock after selling 1,798 shares during the period. Ameritas Investment Partners Inc.’s holdings in CubeSmart were worth $2,161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CUBE. UBS Group AG raised its holdings in CubeSmart by 2.3% during the fourth quarter. UBS Group AG now owns 292,336 shares of the real estate investment trust’s stock worth $13,550,000 after purchasing an additional 6,539 shares in the last quarter. Corient Private Wealth LLC raised its stake in CubeSmart by 1,211.2% during the 4th quarter. Corient Private Wealth LLC now owns 180,975 shares of the real estate investment trust’s stock worth $8,388,000 after acquiring an additional 167,173 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in CubeSmart by 30.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 20,448 shares of the real estate investment trust’s stock valued at $948,000 after acquiring an additional 4,780 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in CubeSmart by 1.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 263,982 shares of the real estate investment trust’s stock valued at $12,236,000 after acquiring an additional 4,970 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new position in shares of CubeSmart during the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Ratings Changes

CUBE has been the subject of a number of research analyst reports. Truist Financial upped their target price on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Barclays increased their price objective on CubeSmart from $48.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Royal Bank of Canada assumed coverage on shares of CubeSmart in a report on Tuesday, September 10th. They issued an “outperform” rating and a $56.00 target price on the stock. Evercore ISI increased their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Raymond James raised their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.50.

Insiders Place Their Bets

In other news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Joel D. Keaton sold 43,478 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the transaction, the insider now directly owns 182,460 shares of the company’s stock, valued at $8,630,358. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,217 shares of company stock worth $4,244,344. Corporate insiders own 1.68% of the company’s stock.

CubeSmart Trading Down 0.3 %

NYSE CUBE opened at $53.94 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $12.13 billion, a P/E ratio of 29.97, a P/E/G ratio of 9.98 and a beta of 0.82. CubeSmart has a 52-week low of $33.17 and a 52-week high of $55.14. The firm has a 50-day moving average price of $50.09 and a 200 day moving average price of $45.81.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23). The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is currently 113.33%.

About CubeSmart

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.