CubeSmart (NYSE:CUBE – Get Free Report) CEO Christopher P. Marr sold 37,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 576,836 shares in the company, valued at $27,947,704.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
CubeSmart Trading Up 0.7 %
Shares of CUBE opened at $48.16 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. CubeSmart has a 12-month low of $33.17 and a 12-month high of $49.58. The firm has a market capitalization of $10.83 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 8.22 and a beta of 0.80. The stock’s fifty day simple moving average is $45.75 and its 200-day simple moving average is $44.18.
CubeSmart (NYSE:CUBE – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.
CubeSmart Dividend Announcement
Institutional Investors Weigh In On CubeSmart
Large investors have recently made changes to their positions in the stock. Whittier Trust Co. boosted its stake in CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 323 shares during the period. Rise Advisors LLC bought a new stake in shares of CubeSmart in the first quarter valued at about $26,000. Mather Group LLC. acquired a new position in shares of CubeSmart during the first quarter worth about $26,000. GAMMA Investing LLC bought a new position in shares of CubeSmart during the fourth quarter worth about $28,000. Finally, Signaturefd LLC raised its position in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 292 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CUBE. BMO Capital Markets lowered shares of CubeSmart from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $50.00 to $47.00 in a research note on Wednesday, May 29th. Wells Fargo & Company raised their price target on CubeSmart from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Raymond James boosted their price objective on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI raised their target price on CubeSmart from $44.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.36.
Check Out Our Latest Analysis on CUBE
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.
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