CubeSmart $CUBE Stock: Kestra Advisory Services LLC Cuts Position

Kestra Advisory Services LLC decreased its holdings in CubeSmart (NYSE:CUBE) by 9.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 123,993 shares of the real estate investment trust’s stock after selling 12,193 shares during the quarter. Kestra Advisory Services LLC’s holdings in CubeSmart were worth $4,660,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Essential Partners LLC increased its position in shares of CubeSmart by 594.7% in the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 779 shares in the last quarter. Parkside Financial Bank & Trust raised its position in CubeSmart by 143.2% in the second quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 554 shares during the period. Elevation Wealth Partners LLC boosted its position in shares of CubeSmart by 38.1% in the second quarter. Elevation Wealth Partners LLC now owns 1,417 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 391 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of CubeSmart during the 2nd quarter valued at about $60,000. Finally, Root Financial Partners LLC acquired a new position in CubeSmart during the 3rd quarter worth approximately $65,000. 97.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CubeSmart

In related news, insider Jeffrey Foster sold 22,776 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $43.72, for a total value of $995,766.72. Following the completion of the transaction, the insider owned 205,057 shares in the company, valued at $8,965,092.04. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CUBE shares. KeyCorp reiterated a “sector weight” rating on shares of CubeSmart in a research note on Tuesday, August 4th. Evercore set a $46.00 target price on CubeSmart in a research report on Monday, September 21st. Truist Financial lifted their price objective on CubeSmart from $41.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho cut their target price on CubeSmart from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 price target on shares of CubeSmart in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.00.

CubeSmart Stock Performance

CUBE stock opened at $44.99 on Friday. CubeSmart has a 1 year low of $35.09 and a 1 year high of $46.41. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 7.17 and a beta of 0.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.06 and a current ratio of 0.06. The stock’s fifty day moving average is $40.01 and its two-hundred day moving average is $39.86.

CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.23). CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The firm had revenue of $293.97 million during the quarter, compared to the consensus estimate of $287.28 million. During the same quarter last year, the company posted $0.65 EPS. CubeSmart’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts predict that CubeSmart will post 2.59 EPS for the current year.

CubeSmart Company Profile

CubeSmart is a self-storage real estate investment trust (REIT) that owns and operates storage facilities in the United States. Its facilities provide rental storage space for individuals and businesses, with options that may include climate-controlled units and storage for vehicles, depending on the location. In addition to operating its own properties, CubeSmart provides management services for self-storage facilities owned by third parties. Its locations serve customers in markets across the country, including major metropolitan areas.