CubeSmart Sees Unusually Large Options Volume (NYSE:CUBE)

CubeSmart (NYSE:CUBE) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 5,039 put options on the stock. This represents an increase of approximately 2,899% compared to the average volume of 168 put options.

CubeSmart Stock Down 0.1%

Shares of NYSE:CUBE traded down $0.03 on Thursday, reaching $45.86. The company had a trading volume of 110,066 shares, compared to its average volume of 2,295,681. CubeSmart has a twelve month low of $35.09 and a twelve month high of $46.41. The stock has a 50-day moving average price of $39.39 and a 200 day moving average price of $39.67. The stock has a market capitalization of $10.25 billion, a P/E ratio of 30.49, a P/E/G ratio of 7.03 and a beta of 0.98. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 1.42.

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

Insiders Place Their Bets

In other CubeSmart news, insider Jeffrey Foster sold 22,776 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On CubeSmart

Institutional investors have recently made changes to their positions in the business. Essential Partners LLC grew its stake in shares of CubeSmart by 594.7% in the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 779 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of CubeSmart by 143.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 941 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 554 shares during the period. Elevation Wealth Partners LLC lifted its position in shares of CubeSmart by 38.1% during the 2nd 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 bought a new position in shares of CubeSmart during the 2nd quarter worth approximately $60,000. Finally, Ascentis Independent Advisors acquired a new stake in CubeSmart in the 1st quarter valued at $60,000. 97.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CUBE shares. Truist Financial began coverage on CubeSmart in a report on Friday, October 2nd. They set a “buy” rating and a $41.00 price objective for the company. Barclays upgraded CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $46.00 in a research note on Friday, July 10th. UBS Group upped their target price on CubeSmart from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday. KeyCorp reaffirmed a “sector weight” rating on shares of CubeSmart in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a report on Tuesday, October 13th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.27.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.