CubeSmart (NYSE:CUBE) Insider Sells $366,054.70 in Stock

CubeSmart (NYSE:CUBE) insider Jeffrey P. Foster sold 7,739 shares of the company’s 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 owns 182,460 shares in the company, valued at $8,630,358. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

CubeSmart Stock Performance

Shares of CUBE opened at $48.17 on Friday. The firm 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. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.04. CubeSmart has a one year low of $33.17 and a one year high of $49.58. The business has a fifty day moving average of $45.75 and a 200 day moving average of $44.19.

CubeSmart (NYSE:CUBE) last announced its 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). CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $260.68 million. During the same period in the prior year, the business posted $0.66 earnings per share. CubeSmart’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Tuesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CUBE shares. BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $50.00 to $47.00 in a report on Wednesday, May 29th. 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 report on Friday, July 26th. Raymond James increased their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI upped their price objective on shares of CubeSmart from $44.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.36.

Hedge Funds Weigh In On CubeSmart

A number of hedge funds and other institutional investors have recently modified their holdings of CUBE. Whittier Trust Co. increased its position in CubeSmart by 136.9% in the second 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 last quarter. Rise Advisors LLC bought a new stake in CubeSmart during the first quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in CubeSmart during the first quarter valued at approximately $26,000. GAMMA Investing LLC bought a new stake in shares of CubeSmart in the 4th quarter valued at approximately $28,000. Finally, Signaturefd LLC boosted its holdings in shares of CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 292 shares during the period. Institutional investors own 97.61% of the company’s stock.

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.