Wealth Enhancement Advisory Services LLC Purchases 54,112 Shares of CubeSmart (NYSE:CUBE)

Wealth Enhancement Advisory Services LLC grew its position in shares of CubeSmart (NYSE:CUBE) by 648.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,456 shares of the real estate investment trust’s stock after purchasing an additional 54,112 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CubeSmart were worth $3,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new stake in CubeSmart in the 1st quarter worth approximately $270,000. Van ECK Associates Corp lifted its stake in shares of CubeSmart by 2.9% in the 1st quarter. Van ECK Associates Corp now owns 87,128 shares of the real estate investment trust’s stock valued at $3,940,000 after purchasing an additional 2,493 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of CubeSmart in the 1st quarter valued at approximately $477,000. BNP Paribas Financial Markets lifted its stake in shares of CubeSmart by 12.3% in the 1st quarter. BNP Paribas Financial Markets now owns 147,029 shares of the real estate investment trust’s stock valued at $6,649,000 after purchasing an additional 16,074 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of CubeSmart by 7.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 72,964 shares of the real estate investment trust’s stock valued at $3,299,000 after purchasing an additional 4,923 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CUBE has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays dropped their target price on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Truist Financial boosted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Raymond James boosted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average target price of $51.73.

CubeSmart Stock Down 1.1 %

CubeSmart stock opened at $47.32 on Friday. The stock has a market cap of $10.66 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 8.81 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.03 and a current ratio of 0.03. CubeSmart has a one year low of $34.51 and a one year high of $55.14. The stock has a fifty day moving average of $51.36 and a 200 day moving average of $47.08.

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). The firm had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. As a group, sell-side analysts predict that CubeSmart will post 2.65 EPS for the current year.

Insiders Place Their Bets

In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was 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 owns 576,836 shares in the company, valued at $27,947,704.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was 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 owns 576,836 shares in the company, valued at $27,947,704.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Joel D. Keaton sold 43,478 shares of the company’s 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 position. The disclosure for this sale can be found here. Insiders sold a total of 88,217 shares of company stock worth $4,244,344 over the last quarter. 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.