CubeSmart (NYSE:CUBE – Get Free Report) COO Joel D. Keaton sold 43,478 shares of the firm’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 transaction of $2,085,639.66. Following the transaction, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at $4,205,194.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
CubeSmart Stock Performance
Shares of CUBE stock opened at $48.17 on Friday. The firm’s 50 day moving average is $45.75 and its 200 day moving average is $44.19. CubeSmart has a 12 month low of $33.17 and a 12 month high of $49.58. The company has a current ratio of 0.03, a quick ratio of 0.04 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $10.84 billion, a P/E ratio of 26.76, a PEG ratio of 8.22 and a beta of 0.80.
CubeSmart (NYSE:CUBE – Get Free Report) last issued its quarterly earnings results 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 analysts’ expectations of $260.68 million. During the same period last year, the business earned $0.66 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Announces Dividend
Institutional Trading of CubeSmart
Large investors have recently made changes to their positions in the stock. Edgestream Partners L.P. lifted its holdings in CubeSmart by 330.2% during the second quarter. Edgestream Partners L.P. now owns 80,405 shares of the real estate investment trust’s stock valued at $3,632,000 after purchasing an additional 61,714 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CubeSmart by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after buying an additional 169,600 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of CubeSmart in the second quarter worth $593,000. DekaBank Deutsche Girozentrale increased its position in CubeSmart by 23.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 154,856 shares of the real estate investment trust’s stock worth $6,921,000 after purchasing an additional 29,184 shares during the last quarter. Finally, American Century Companies Inc. increased its position in CubeSmart by 16.0% in the second quarter. American Century Companies Inc. now owns 560,903 shares of the real estate investment trust’s stock worth $25,336,000 after purchasing an additional 77,503 shares during the last quarter. 97.61% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CUBE shares. Evercore ISI boosted their price target on CubeSmart from $44.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Raymond James boosted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. Finally, Wells Fargo & Company increased their target price on shares of CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.36.
Read Our Latest Stock Report on CUBE
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.
Featured Articles
- Five stocks we like better than CubeSmart
- Best Aerospace Stocks Investing
- The Cannabis Sector: Profitability Takes Center Stage
- Bank Stocks – Best Bank Stocks to Invest In
- Amazon’s Stock Plunge: Is a Prime Buying Opportunity Knocking?
- Dividend Capture Strategy: What You Need to Know
- Buy the Dip in e.l.f. Beauty: Analysts Point to a New High
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.