Commonwealth Equity Services LLC Raises Holdings in CubeSmart (NYSE:CUBE)

Commonwealth Equity Services LLC grew its position in shares of CubeSmart (NYSE:CUBE) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 175,644 shares of the real estate investment trust’s stock after buying an additional 6,544 shares during the quarter. Commonwealth Equity Services LLC’s holdings in CubeSmart were worth $6,130,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CUBE. Nuveen Asset Management LLC lifted its holdings in shares of CubeSmart by 12.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,648,993 shares of the real estate investment trust’s stock valued at $55,144,000 after acquiring an additional 186,760 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of CubeSmart by 17.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,620,602 shares of the real estate investment trust’s stock valued at $54,226,000 after acquiring an additional 240,141 shares during the last quarter. Hill Winds Capital LP lifted its holdings in shares of CubeSmart by 16.2% in the 2nd quarter. Hill Winds Capital LP now owns 215,000 shares of the real estate investment trust’s stock valued at $7,190,000 after acquiring an additional 30,000 shares during the last quarter. Albion Financial Group UT bought a new position in shares of CubeSmart in the 2nd quarter valued at about $217,000. Finally, Pensionfund DSM Netherlands lifted its holdings in shares of CubeSmart by 23.4% in the 2nd quarter. Pensionfund DSM Netherlands now owns 58,000 shares of the real estate investment trust’s stock valued at $1,940,000 after acquiring an additional 11,000 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Shares of NYSE CUBE opened at $31.36 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $6.13 billion, a P/E ratio of 18.84, a PEG ratio of 5.45 and a beta of 0.10. CubeSmart has a 1 year low of $27.97 and a 1 year high of $36.32. The firm has a 50-day simple moving average of $34.11 and a two-hundred day simple moving average of $34.03.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). The firm had revenue of $166.55 million during the quarter, compared to the consensus estimate of $164.01 million. CubeSmart had a return on equity of 9.98% and a net margin of 28.58%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. As a group, equities research analysts expect that CubeSmart will post 1.68 EPS for the current year.

A number of brokerages recently commented on CUBE. Bank of America downgraded shares of CubeSmart from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Zacks Investment Research downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Cfra downgraded shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Raymond James raised shares of CubeSmart from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $38.00 to $38.50 in a report on Monday, October 21st. Finally, ValuEngine downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the stock. CubeSmart currently has a consensus rating of “Hold” and an average target price of $33.79.

In other CubeSmart news, CFO Timothy M. Martin sold 17,791 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $35.80, for a total value of $636,917.80. Following the completion of the sale, the chief financial officer now owns 200,027 shares of the company’s stock, valued at $7,160,966.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Martin sold 32,028 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $35.75, for a total transaction of $1,145,001.00. Following the completion of the sale, the chief financial officer now directly owns 214,264 shares of the company’s stock, valued at approximately $7,659,938. The disclosure for this sale can be found here. In the last three months, insiders sold 129,707 shares of company stock valued at $4,669,870. 1.04% of the stock is owned by insiders.

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 secure storage space for residential and commercial customers. According to the 2019 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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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