Macquarie Group Ltd. reduced its stake in shares of CubeSmart (NYSE:CUBE) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 587,189 shares of the company’s stock after selling 86,688 shares during the period. Macquarie Group Ltd.’s holdings in CubeSmart were worth $18,132,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CUBE. RS Investment Management Co. LLC increased its position in shares of CubeSmart by 16.3% in the second quarter. RS Investment Management Co. LLC now owns 725,470 shares of the company’s stock worth $22,403,000 after buying an additional 101,596 shares during the last quarter. Resolution Capital Ltd boosted its stake in CubeSmart by 50.2% in the second quarter. Resolution Capital Ltd now owns 1,555,035 shares of the company’s stock valued at $48,019,000 after buying an additional 519,764 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in CubeSmart by 1.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 380,893 shares of the company’s stock valued at $11,762,000 after buying an additional 5,696 shares during the period. Capital Analysts LLC boosted its stake in CubeSmart by 812.9% in the second quarter. Capital Analysts LLC now owns 21,380 shares of the company’s stock valued at $537,000 after buying an additional 19,038 shares during the period. Finally, Presima Inc. acquired a new stake in CubeSmart during the second quarter valued at about $26,909,000.
CubeSmart (NYSE:CUBE) traded down 0.29% on Friday, reaching $24.21. The company had a trading volume of 491,057 shares. The stock has a market capitalization of $4.36 billion, a P/E ratio of 46.38 and a beta of 0.34. CubeSmart has a 12 month low of $23.65 and a 12 month high of $33.52. The firm has a 50-day moving average of $25.50 and a 200-day moving average of $28.39.
CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.19 million. During the same quarter in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts expect that CubeSmart will post $1.41 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. FBR & Co set a $35.00 target price on CubeSmart and gave the stock a “buy” rating in a research note on Sunday, September 18th. Zacks Investment Research raised CubeSmart from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, November 16th. Jefferies Group reissued a “buy” rating on shares of CubeSmart in a research note on Monday, August 1st. Cantor Fitzgerald reissued a “buy” rating on shares of CubeSmart in a research note on Friday, October 28th. Finally, Evercore ISI raised CubeSmart from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Monday, August 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. CubeSmart currently has a consensus rating of “Buy” and a consensus target price of $33.11.
In other CubeSmart news, Director William M. Diefenderfer III sold 2,961 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $27.25, for a total transaction of $80,687.25. Following the transaction, the director now owns 128,486 shares of the company’s stock, valued at approximately $3,501,243.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.13% of the company’s stock.
CubeSmart Company Profile
CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.