Impact Partnership Wealth LLC Purchases 1,050 Shares of CubeSmart (NYSE:CUBE)

Impact Partnership Wealth LLC boosted its position in CubeSmart (NYSE:CUBE) by 17.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,979 shares of the real estate investment trust’s stock after acquiring an additional 1,050 shares during the period. Impact Partnership Wealth LLC’s holdings in CubeSmart were worth $376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in CubeSmart by 0.9% during the first quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock worth $1,443,316,000 after buying an additional 274,493 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 boosted its holdings in CubeSmart by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after buying an additional 624,661 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 worth $152,652,000 after buying an additional 169,600 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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 buying an additional 303,347 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 0.4 %

Shares of CubeSmart stock opened at $49.09 on Friday. The firm has a market cap of $11.05 billion, a PE ratio of 27.58, a P/E/G ratio of 8.86 and a beta of 0.82. CubeSmart has a 52-week low of $33.17 and a 52-week high of $55.14. The business’s 50 day simple moving average is $51.59 and its 200 day simple moving average is $46.94. 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 (NYSE:CUBE) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.23). The company had revenue of $266.20 million for the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, analysts predict that CubeSmart will post 2.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CubeSmart news, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the transaction, the chief executive officer now owns 576,836 shares of the company’s stock, valued at $27,947,704.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jeffrey P. Foster sold 7,739 shares of CubeSmart stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 182,460 shares in the company, valued at approximately $8,630,358. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher P. Marr sold 37,000 shares of CubeSmart stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 576,836 shares of the company’s stock, valued at $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. Insiders have 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 Ratings Changes

A number of research firms have recently commented on CUBE. Truist Financial raised their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Evercore ISI raised their price target on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Barclays raised their price target on CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price target on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, UBS Group lowered CubeSmart from a “buy” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $54.00 in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.67.

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.