CubeSmart (NYSE:CUBE) Stock Sees Unusually High Put Option Buying

CubeSmart (NYSE:CUBE) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 5,039 put options on the stock. This is an increase of 2,899% compared to the average volume of 168 put options.

Insider Buying and Selling

In other CubeSmart news, insider Jeffrey Foster sold 22,776 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $43.72, for a total value of $995,766.72. Following the transaction, the insider owned 205,057 shares of the company’s stock, valued at approximately $8,965,092.04. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On CubeSmart

Several large investors have recently added to or reduced their stakes in CUBE. Kestra Investment Management LLC grew its holdings in CubeSmart by 10.3% in the third quarter. Kestra Investment Management LLC now owns 9,866 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 918 shares during the period. Parallel Advisors LLC boosted its stake in CubeSmart by 16.9% in the third quarter. Parallel Advisors LLC now owns 3,273 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 472 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of CubeSmart by 17.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,912 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 1,305 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of CubeSmart by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,480,726 shares of the real estate investment trust’s stock valued at $55,646,000 after buying an additional 13,492 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in CubeSmart by 7.2% during the 3rd quarter. D.A. Davidson & CO. now owns 67,007 shares of the real estate investment trust’s stock worth $2,518,000 after purchasing an additional 4,481 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

CUBE has been the topic of several recent research reports. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CubeSmart in a research report on Tuesday, October 13th. Evercore set a $46.00 price target on shares of CubeSmart in a research report on Monday, September 21st. UBS Group boosted their target price on shares of CubeSmart from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Raymond James Financial assumed coverage on CubeSmart in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.27.

CubeSmart Price Performance

Shares of CUBE traded down $0.03 during midday trading on Thursday, hitting $45.86. The company’s stock had a trading volume of 110,066 shares, compared to its average volume of 2,295,681. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 7.03 and a beta of 0.98. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $39.39 and its two-hundred day simple moving average is $39.67. CubeSmart has a one year low of $35.09 and a one year high of $46.41.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The company had revenue of $293.97 million for the quarter, compared to analyst estimates of $287.28 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. CubeSmart’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts expect that CubeSmart will post 2.59 earnings per share for the current fiscal year.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.