CubeSmart (NYSE:CUBE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of CubeSmart (NYSE:CUBE) by 89.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,530 shares of the real estate investment trust’s stock after selling 36,606 shares during the period. SG Americas Securities LLC’s holdings in CubeSmart were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CUBE. Mather Group LLC. acquired a new position in shares of CubeSmart during the 1st quarter worth approximately $26,000. Gateway Investment Advisers LLC raised its position in shares of CubeSmart by 24.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 234,822 shares of the real estate investment trust’s stock worth $10,619,000 after purchasing an additional 46,718 shares during the last quarter. Hazelview Securities Inc. raised its position in shares of CubeSmart by 100.8% during the 1st quarter. Hazelview Securities Inc. now owns 230,320 shares of the real estate investment trust’s stock worth $10,371,000 after purchasing an additional 115,600 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of CubeSmart during the 1st quarter worth approximately $270,000. Finally, Mirador Capital Partners LP raised its position in shares of CubeSmart by 5.4% during the 1st quarter. Mirador Capital Partners LP now owns 15,221 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 782 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following the sale, the insider now owns 182,460 shares in the company, valued at approximately $8,630,358. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,217 shares of company stock worth $4,244,344. 1.68% of the stock is currently owned by corporate insiders.

CubeSmart Stock Down 3.1 %

Shares of CubeSmart stock opened at $48.41 on Tuesday. The company has a fifty day moving average price of $51.56 and a 200 day moving average price of $46.86. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. CubeSmart has a twelve month low of $33.17 and a twelve month high of $55.14. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 9.12 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The business had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that CubeSmart will post 2.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CUBE. Truist Financial lifted their target price on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Evercore ISI lifted their target price 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. Raymond James lifted their target price on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Finally, Jefferies Financial Group boosted their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart presently has an average rating of “Hold” and an average price target of $50.67.

CubeSmart 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.