CubeSmart (NYSE:CUBE) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its stake in shares of CubeSmart (NYSE:CUBE) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 877,271 shares of the real estate investment trust’s stock after selling 7,103 shares during the period. Boston Trust Walden Corp owned approximately 0.39% of CubeSmart worth $47,223,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in CubeSmart by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 31,917,644 shares of the real estate investment trust’s stock worth $1,443,316,000 after acquiring an additional 274,493 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of CubeSmart by 26.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock valued at $257,191,000 after purchasing an additional 1,205,097 shares during the period. Allspring Global Investments Holdings LLC lifted its position in CubeSmart by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock worth $273,986,000 after acquiring an additional 624,661 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CubeSmart by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,379,516 shares of the real estate investment trust’s stock worth $152,652,000 after purchasing an additional 169,600 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of CubeSmart by 12.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after acquiring an additional 303,347 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Price Performance

Shares of CUBE stock opened at $48.25 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $51.58 and its 200-day moving average is $46.96. CubeSmart has a 1 year low of $33.17 and a 1 year high of $55.14. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 8.86 and a beta of 0.82.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 earnings per share 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 company had revenue of $266.20 million during the quarter, compared to analyst estimates of $260.68 million. During the same quarter last year, the company earned $0.66 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that CubeSmart will post 2.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christopher P. Marr sold 37,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $48.45, for a total transaction of $1,792,650.00. Following the sale, the chief executive officer now owns 576,836 shares in the company, valued at $27,947,704.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other CubeSmart news, insider Jeffrey P. Foster sold 7,739 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.30, for a total value of $366,054.70. Following the transaction, the insider now directly owns 182,460 shares of the company’s stock, valued at $8,630,358. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,217 shares of company stock worth $4,244,344 in the last quarter. Corporate insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and increased their target price for the company from $53.00 to $54.00 in a research note on Friday, September 13th. Truist Financial upped their price target on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada began coverage on CubeSmart in a report on Tuesday, September 10th. They set an “outperform” rating and a $56.00 price objective for the company. Jefferies Financial Group upped their target price on shares of CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI boosted their price target on shares of CubeSmart from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, CubeSmart presently has a consensus rating of “Hold” and an average price target of $50.67.

CubeSmart Company 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, 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.