Davidson Investment Advisors Has $10.42 Million Stock Position in CubeSmart (NYSE:CUBE)

Davidson Investment Advisors lowered its position in shares of CubeSmart (NYSE:CUBE) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,612 shares of the real estate investment trust’s stock after selling 1,470 shares during the quarter. Davidson Investment Advisors owned 0.15% of CubeSmart worth $10,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of CubeSmart by 29.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,366,989 shares of the real estate investment trust’s stock worth $346,672,000 after purchasing an additional 2,382,832 shares in the last quarter. Eaton Vance Management raised its stake in shares of CubeSmart by 376.4% during the 2nd quarter. Eaton Vance Management now owns 2,176,615 shares of the real estate investment trust’s stock worth $72,786,000 after purchasing an additional 1,719,753 shares in the last quarter. Resolution Capital Ltd bought a new stake in shares of CubeSmart during the 3rd quarter worth approximately $54,460,000. Cohen & Steers Inc. raised its stake in shares of CubeSmart by 34.0% during the 2nd quarter. Cohen & Steers Inc. now owns 3,092,619 shares of the real estate investment trust’s stock worth $103,417,000 after purchasing an additional 784,976 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of CubeSmart by 27.8% during the 2nd quarter. Bank of America Corp DE now owns 1,502,514 shares of the real estate investment trust’s stock worth $50,245,000 after purchasing an additional 327,032 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

CUBE has been the topic of a number of analyst reports. Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. ValuEngine cut CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded CubeSmart from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $38.00 to $38.50 in a research note on Monday, October 21st. Cfra cut CubeSmart from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus started coverage on CubeSmart in a research note on Monday, August 19th. They set a “hold” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company’s stock. CubeSmart currently has an average rating of “Hold” and a consensus price target of $33.79.

In other CubeSmart news, CEO Christopher P. Marr sold 79,888 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $36.15, for a total transaction of $2,887,951.20. Following the transaction, the chief executive officer now owns 403,687 shares in the company, valued at approximately $14,593,285.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy M. Martin sold 32,028 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $35.75, for a total value of $1,145,001.00. Following the transaction, the chief financial officer now owns 214,264 shares in the company, valued at approximately $7,659,938. The disclosure for this sale can be found here. Insiders have sold a total of 129,707 shares of company stock worth $4,669,870 in the last quarter. Company insiders own 1.04% of the company’s stock.

CUBE traded up $0.15 during trading hours on Tuesday, reaching $31.04. The company’s stock had a trading volume of 5,577 shares, compared to its average volume of 1,925,549. CubeSmart has a 52 week low of $27.97 and a 52 week high of $36.32. The company’s 50-day moving average is $33.74 and its 200-day moving average is $34.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $6.00 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 5.47 and a beta of 0.10.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.21). The business had revenue of $166.55 million during the quarter, compared to the consensus estimate of $164.01 million. CubeSmart had a net margin of 28.58% and a return on equity of 9.98%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. Equities analysts anticipate that CubeSmart will post 1.68 earnings per share 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 secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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