CubeSmart (NYSE:CUBE) Holdings Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in CubeSmart (NYSE:CUBE) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,307 shares of the real estate investment trust’s stock after selling 7,803 shares during the period. Nisa Investment Advisors LLC’s holdings in CubeSmart were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. Mirador Capital Partners LP grew its stake in shares of CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 248 shares during the last quarter. Covestor Ltd boosted its stake in CubeSmart by 11.8% in the 1st quarter. Covestor Ltd now owns 2,637 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 278 shares during the period. Presima Securities ULC grew its position in CubeSmart by 2.9% during the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of CubeSmart by 14.7% during the second quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 311 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 323 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the completion of the sale, the insider now owns 182,460 shares of the company’s stock, valued at $8,630,358. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jeffrey P. Foster sold 7,739 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $47.30, for a total value of $366,054.70. Following the transaction, the insider now owns 182,460 shares in the company, valued at $8,630,358. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief operating officer now owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,217 shares of company stock valued at $4,244,344. Insiders own 1.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CUBE shares. Raymond James raised their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Truist Financial increased their target price on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Scotiabank started coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group raised their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CubeSmart has an average rating of “Hold” and an average price target of $51.73.

CubeSmart Stock Down 1.1 %

Shares of CUBE opened at $47.32 on Friday. The company has a market capitalization of $10.66 billion, a P/E ratio of 26.58, a PEG ratio of 8.81 and a beta of 0.82. CubeSmart has a one year low of $34.51 and a one year high of $55.14. The business’s 50 day simple moving average is $51.36 and its 200-day simple moving average is $47.08. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data 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 business had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same period in the prior year, the firm posted $0.66 EPS. CubeSmart’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that CubeSmart will post 2.65 EPS for the current fiscal year.

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.