Insider Selling: CubeSmart (NYSE:CUBE) Insider Sells $995,766.72 in Stock

CubeSmart (NYSE:CUBE) insider Jeffrey Foster sold 22,776 shares of CubeSmart stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $43.72, for a total value of $995,766.72. Following the transaction, the insider directly owned 205,057 shares of the company’s stock, valued at approximately $8,965,092.04. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CubeSmart Stock Down 1.1%

Shares of NYSE:CUBE opened at $45.38 on Friday. CubeSmart has a 52 week low of $35.09 and a 52 week high of $46.41. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.07 and a current ratio of 0.06. The company’s fifty day moving average is $39.49 and its 200-day moving average is $39.70. The company has a market capitalization of $10.14 billion, a PE ratio of 30.05, a P/E/G ratio of 7.29 and a beta of 0.98.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.23). The firm had revenue of $293.97 million during the quarter, compared to the consensus estimate of $287.28 million. CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Equities research analysts predict that CubeSmart will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBE. Essential Partners LLC boosted its holdings in CubeSmart by 594.7% in the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 779 shares during the last quarter. Parkside Financial Bank & Trust increased its position in CubeSmart by 143.2% in the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 554 shares during the period. Elevation Wealth Partners LLC raised its holdings in CubeSmart by 38.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 391 shares during the last quarter. Ascentis Independent Advisors bought a new stake in CubeSmart during the 1st quarter worth about $60,000. Finally, Global Retirement Partners LLC acquired a new position in CubeSmart during the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CUBE. UBS Group raised their price objective on shares of CubeSmart from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays raised CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $46.00 in a report on Friday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a research report on Tuesday, October 13th. Evercore set a $46.00 price target on CubeSmart in a research report on Monday, September 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.27.

About CubeSmart

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.