Key Points
- CubeSmart insider Jeffrey Foster sold 22,776 shares at an average price of $43.72, totaling about $996,000. He retained 205,057 shares after the sale.
- Quarterly earnings were $0.42 per share, below the $0.65 analyst consensus, while revenue of $293.97 million topped estimates and rose 3.1% year over year.
- Analysts have a consensus “Hold” rating on CubeSmart, with an average price target of $42.73.
CubeSmart (NYSE:CUBE - Get Free Report) insider Jeffrey Foster sold 22,776 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $43.72, for a total transaction of $995,766.72. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at approximately $8,965,092.04. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
CubeSmart Trading Down 0.2%
CubeSmart stock opened at $44.19 on Wednesday. CubeSmart has a one year low of $35.09 and a one year high of $44.54. The business's fifty day moving average is $39.29 and its 200 day moving average is $39.64. The stock has a market capitalization of $9.87 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 7.42 and a beta of 0.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.06 and a quick ratio of 0.07.
CubeSmart (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.23). The company 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 company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts predict that CubeSmart will post 2.59 EPS for the current year.
Analyst Ratings Changes
Several research analysts have recently commented on CUBE shares. Barclays raised CubeSmart from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $46.00 in a research note on Friday, July 10th. Wells Fargo & Company raised their price objective on CubeSmart from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, July 24th. Evercore set a $46.00 target price on shares of CubeSmart in a report on Monday, September 21st. UBS Group reduced their price objective on CubeSmart from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday, October 16th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $47.00 price target on shares of CubeSmart in a research 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 company. Based on data from MarketBeat, CubeSmart has a consensus rating of "Hold" and a consensus price target of $42.73.
Check Out Our Latest Analysis on CUBE
Hedge Funds Weigh In On CubeSmart
A number of large investors have recently made changes to their positions in the company. Essential Partners LLC raised its position in CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 779 shares during the period. Parkside Financial Bank & Trust lifted its stake 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 last quarter. Elevation Wealth Partners LLC boosted its position in shares of CubeSmart by 38.1% during the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 391 shares during the period. Ascentis Independent Advisors purchased a new position in shares of CubeSmart during the first quarter valued at approximately $60,000. Finally, Global Retirement Partners LLC purchased a new position in shares of CubeSmart during the second quarter valued at approximately $60,000. 97.61% of the stock is owned by hedge funds and other institutional investors.
CubeSmart Company Profile
(
Get Free Report)
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.
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