Simplicity Wealth LLC Makes New Investment in CubeSmart (NYSE:CUBE)

Simplicity Wealth LLC acquired a new stake in CubeSmart (NYSE:CUBE) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,856 shares of the real estate investment trust’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CUBE. Twin Tree Management LP increased its stake in CubeSmart by 29,720.5% in the first quarter. Twin Tree Management LP now owns 11,630 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 11,591 shares during the last quarter. Tidal Investments LLC raised its stake in CubeSmart by 32.6% during the 1st quarter. Tidal Investments LLC now owns 89,342 shares of the real estate investment trust’s stock worth $4,040,000 after acquiring an additional 21,967 shares in the last quarter. Boston Trust Walden Corp lifted its position in CubeSmart by 2.7% in the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after acquiring an additional 23,179 shares during the last quarter. PGGM Investments boosted its stake in CubeSmart by 7.3% in the second quarter. PGGM Investments now owns 868,769 shares of the real estate investment trust’s stock valued at $39,242,000 after acquiring an additional 59,020 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of CubeSmart during the first quarter worth about $48,716,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CubeSmart

In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of CubeSmart stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the completion of the transaction, the chief executive officer now owns 576,836 shares in the company, valued at approximately $27,947,704.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $47.30, for a total transaction of $366,054.70. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher P. Marr sold 37,000 shares of CubeSmart 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 sale, the chief executive officer now owns 576,836 shares of the company’s stock, valued at approximately $27,947,704.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,217 shares of company stock valued at $4,244,344 in the last 90 days. 1.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CUBE. Royal Bank of Canada began coverage on CubeSmart in a research note on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price target on the stock. Jefferies Financial Group lifted their target price on shares of CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays increased their price target on shares of CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Scotiabank assumed coverage on shares of CubeSmart in a research note on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 target price for the company. Finally, Evercore ISI boosted their price target on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CubeSmart has an average rating of “Hold” and an average price target of $50.50.

CubeSmart Stock Up 0.2 %

CubeSmart stock opened at $49.94 on Tuesday. The stock’s 50 day moving average price is $51.37 and its 200 day moving average price is $46.71. The company has a market cap of $11.24 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 9.11 and a beta of 0.82. 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 has a 1-year low of $33.17 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The company had revenue of $266.20 million during 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. On average, sell-side analysts predict that CubeSmart will post 2.65 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Tuesday, October 1st. CubeSmart’s dividend payout ratio is currently 113.33%.

CubeSmart 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.