Nisa Investment Advisors LLC Sells 7,803 Shares of CubeSmart (NYSE:CUBE)

Nisa Investment Advisors LLC lowered its position in CubeSmart (NYSE:CUBE) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue grew its position in shares of CubeSmart by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 133,050 shares of the real estate investment trust’s stock valued at $7,161,000 after purchasing an additional 482 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in CubeSmart by 3.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 160,181 shares of the real estate investment trust’s stock valued at $8,478,000 after buying an additional 5,325 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CubeSmart by 648.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 62,456 shares of the real estate investment trust’s stock valued at $3,362,000 after buying an additional 54,112 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of CubeSmart during the third quarter worth $339,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CubeSmart by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,732 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 2,253 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of CUBE stock opened at $47.32 on Friday. The company has a fifty day moving average price of $51.36 and a two-hundred day moving average price of $47.08. CubeSmart has a one year low of $34.51 and a one year high of $55.14. The stock has a market cap of $10.66 billion, a P/E ratio of 26.58, a P/E/G ratio of 8.81 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 (NYSE:CUBE) last posted its quarterly earnings results 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 business had revenue of $266.20 million for the quarter, compared to the consensus estimate of $260.68 million. CubeSmart had a return on equity of 14.37% and a net margin of 38.07%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, equities analysts predict that CubeSmart will post 2.65 EPS for the current year.

Insider Activity

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at $4,205,194.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jeffrey P. Foster sold 7,739 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 182,460 shares in the company, valued at $8,630,358. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 87,663 shares in the company, valued at $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 valued at $4,244,344 over the last three months. Insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James increased 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. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $54.00 in a report on Friday, September 13th. Scotiabank began coverage on CubeSmart in a research note on Thursday, August 22nd. They issued a “sector outperform” rating and a $53.00 target price on the stock. Truist Financial raised their price target on shares of CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group boosted their price objective on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.73.

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.