Creative Planning Purchases 2,307 Shares of CubeSmart (NYSE:CUBE)

Creative Planning grew its stake in CubeSmart (NYSE:CUBE) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,335 shares of the real estate investment trust’s stock after acquiring an additional 2,307 shares during the quarter. Creative Planning’s holdings in CubeSmart were worth $987,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in CubeSmart by 0.9% in the first quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock worth $1,443,316,000 after acquiring an additional 274,493 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock valued at $257,191,000 after purchasing an additional 1,205,097 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of CubeSmart by 16.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,465,184 shares of the real estate investment trust’s stock valued at $201,692,000 after purchasing an additional 615,035 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after purchasing an additional 169,600 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of CubeSmart by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after purchasing an additional 303,347 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial upped their price objective on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Scotiabank assumed coverage on CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price objective for the company. UBS Group cut CubeSmart from a “buy” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Jefferies Financial Group upped their price objective on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada assumed coverage on CubeSmart in a research report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.73.

Insider Activity at CubeSmart

In related news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher P. Marr sold 37,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total value of $1,792,650.00. Following the completion of the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,217 shares of company stock valued at $4,244,344. Insiders own 1.68% of the company’s stock.

CubeSmart Stock Performance

Shares of CUBE opened at $47.32 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 business has a 50-day simple moving average of $51.36 and a two-hundred day simple moving average of $47.08. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 8.81 and a beta of 0.82. CubeSmart has a 52 week low of $34.51 and a 52 week high of $55.14.

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). 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 quarter in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that CubeSmart will post 2.65 EPS for the current year.

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.