Mount Yale Investment Advisors LLC Buys 3,761 Shares of CubeSmart (NYSE:CUBE)

Mount Yale Investment Advisors LLC raised its stake in CubeSmart (NYSE:CUBE) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,964 shares of the real estate investment trust’s stock after purchasing an additional 3,761 shares during the period. Mount Yale Investment Advisors LLC’s holdings in CubeSmart were worth $1,505,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of CubeSmart by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock worth $1,443,316,000 after purchasing an additional 274,493 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CubeSmart by 26.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after buying an additional 1,205,097 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of CubeSmart by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after buying an additional 624,661 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CubeSmart by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock valued at $152,652,000 after buying an additional 169,600 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of CubeSmart by 12.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock worth $123,234,000 after acquiring an additional 303,347 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Insider Buying and Selling at CubeSmart

In related news, COO Joel D. Keaton sold 43,478 shares of the business’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 sale, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Joel D. Keaton sold 43,478 shares of CubeSmart stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 87,663 shares in the company, valued at approximately $4,205,194.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 576,836 shares in the company, valued at $27,947,704.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,217 shares of company stock worth $4,244,344 over the last ninety days. 1.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CUBE. Raymond James raised their price target on shares of CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Barclays raised their target price on CubeSmart from $48.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, August 22nd. Scotiabank started coverage on CubeSmart in a report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price target for the company. Evercore ISI raised their price objective on CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, CubeSmart currently has a consensus rating of “Hold” and a consensus target price of $50.67.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $48.25 on Friday. The company has a market capitalization of $10.85 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 8.86 and a beta of 0.82. The company’s 50-day moving average is $51.58 and its 200 day moving average is $46.96. 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 fifty-two week low of $33.17 and a fifty-two week high of $55.14.

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

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.