Mount Yale Investment Advisors LLC Has $1.51 Million Stock Holdings in CubeSmart (NYSE:CUBE)

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

A number of other institutional investors also recently modified their holdings of the business. Impact Partnership Wealth LLC boosted its stake in shares of CubeSmart by 17.7% in the third quarter. Impact Partnership Wealth LLC now owns 6,979 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 1,050 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in CubeSmart by 13.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,067 shares of the real estate investment trust’s stock valued at $865,000 after acquiring an additional 1,938 shares in the last quarter. BTS Asset Management Inc. bought a new stake in shares of CubeSmart during the 3rd quarter valued at $266,000. International Assets Investment Management LLC acquired a new stake in shares of CubeSmart during the 3rd quarter worth $3,905,000. Finally, Lake Street Private Wealth LLC increased its position in shares of CubeSmart by 7.4% in the third quarter. Lake Street Private Wealth LLC now owns 47,706 shares of the real estate investment trust’s stock worth $2,568,000 after purchasing an additional 3,297 shares during the period. Institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CUBE. Royal Bank of Canada started coverage on shares of CubeSmart in a research report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective for the company. Barclays increased their price target on shares of CubeSmart from $48.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Scotiabank assumed coverage on shares of CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price objective for the company. Raymond James raised their target price on CubeSmart from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Truist Financial boosted their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.67.

CubeSmart Price Performance

Shares of CUBE opened at $48.25 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 1.03. The stock has a market cap of $10.85 billion, a PE ratio of 26.81, a PEG ratio of 8.86 and a beta of 0.82. CubeSmart has a 12-month low of $33.17 and a 12-month high of $55.14. The business has a 50-day simple moving average of $51.58 and a two-hundred day simple moving average of $46.96.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data 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). CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same period in the prior year, the company earned $0.66 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that CubeSmart will post 2.65 earnings per share for the current fiscal year.

Insider Transactions at CubeSmart

In related news, insider Jeffrey P. Foster sold 7,739 shares of the 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Christopher P. Marr sold 37,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 in the company, valued at approximately $27,947,704.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction 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 sale, the insider now owns 182,460 shares of the company’s stock, valued at approximately $8,630,358. 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 90 days, insiders have sold 88,217 shares of company stock worth $4,244,344. Company insiders own 1.68% of the company’s stock.

About CubeSmart

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.