Vanderbilt University Lowers Holdings in CubeSmart (NYSE:CUBE)

Vanderbilt University reduced its stake in shares of CubeSmart (NYSE:CUBE) by 57.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,670 shares of the real estate investment trust’s stock after selling 8,910 shares during the period. Vanderbilt University’s holdings in CubeSmart were worth $359,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CUBE. State of Alaska Department of Revenue raised its stake in CubeSmart by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 133,050 shares of the real estate investment trust’s stock worth $7,161,000 after purchasing an additional 482 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of CubeSmart by 3.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 160,181 shares of the real estate investment trust’s stock worth $8,478,000 after buying an additional 5,325 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of CubeSmart by 648.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 62,456 shares of the real estate investment trust’s stock worth $3,362,000 after buying an additional 54,112 shares during the period. Arkadios Wealth Advisors acquired a new position in CubeSmart in the third quarter valued at $339,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in CubeSmart by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,732 shares of the real estate investment trust’s stock valued at $465,000 after acquiring an additional 2,253 shares during the period. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Up 0.6 %

CUBE stock traded up $0.30 during trading on Monday, reaching $48.55. The stock had a trading volume of 52,198 shares, compared to its average volume of 1,341,004. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average price of $51.58 and a 200 day moving average price of $46.98. The company has a market capitalization of $10.93 billion, a P/E ratio of 27.42, a PEG ratio of 8.81 and a beta of 0.82. CubeSmart has a 1-year low of $33.17 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.23). CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The business had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same quarter last year, the firm posted $0.66 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that CubeSmart will post 2.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Royal Bank of Canada began coverage on shares of CubeSmart in a report on Tuesday, September 10th. They issued an “outperform” rating and a $56.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI increased their price objective on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Barclays reduced their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.58.

Insider Transactions at CubeSmart

In related news, COO Joel D. Keaton sold 43,478 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $47.97, for a total value of $2,085,639.66. Following the sale, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at $4,205,194.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Joel D. Keaton sold 43,478 shares of CubeSmart stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total value of $2,085,639.66. Following the completion of the transaction, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher P. Marr sold 37,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 576,836 shares of the company’s stock, valued at approximately $27,947,704.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,217 shares of company stock valued at $4,244,344. 1.68% of the stock is currently owned by corporate 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, 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.