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% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,979 shares of the real estate investment trust’s stock after buying an additional 1,050 shares during the period. Impact Partnership Wealth LLC’s holdings in CubeSmart were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. lifted its position in shares of CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 323 shares during the period. UMB Bank n.a. lifted its position in shares of CubeSmart by 302.0% during the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 444 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of CubeSmart during the 2nd quarter valued at $33,000. Larson Financial Group LLC bought a new stake in shares of CubeSmart during the 1st quarter valued at $45,000. Finally, Quarry LP lifted its position in shares of CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 757 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price target for the company. Jefferies Financial Group boosted their price target on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company boosted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday. Raymond James boosted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Barclays boosted their price target on CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.67.

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 182,460 shares in the company, valued at approximately $8,630,358. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $8,630,358. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,217 shares of company stock worth $4,244,344. Corporate insiders own 1.68% of the company’s stock.

CubeSmart Stock Down 0.4 %

Shares of NYSE:CUBE opened at $49.09 on Friday. The business’s 50 day simple moving average is $51.59 and its two-hundred day simple moving average is $46.94. The firm has a market cap of $11.05 billion, a P/E ratio of 27.58, a PEG ratio of 8.86 and a beta of 0.82. 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 52-week low of $33.17 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.23). The firm had revenue of $266.20 million during 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, research analysts forecast that CubeSmart will post 2.65 EPS for the current fiscal 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.