UBS Oconnor LLC Purchases 34,500 Shares of CubeSmart (NYSE:CUBE)

UBS Oconnor LLC grew its position in shares of CubeSmart (NYSE:CUBE) by 43.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 113,027 shares of the real estate investment trust’s stock after acquiring an additional 34,500 shares during the period. UBS Oconnor LLC’s holdings in CubeSmart were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE increased its position 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 valued at $50,245,000 after purchasing an additional 327,032 shares during the last quarter. Kempen Capital Management N.V. increased its position in shares of CubeSmart by 1.0% during the 2nd quarter. Kempen Capital Management N.V. now owns 562,293 shares of the real estate investment trust’s stock valued at $18,803,000 after purchasing an additional 5,482 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of CubeSmart by 15.2% during the 2nd quarter. Mackenzie Financial Corp now owns 24,252 shares of the real estate investment trust’s stock valued at $811,000 after purchasing an additional 3,206 shares during the last quarter. Cohen & Steers Inc. increased its position 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 valued at $103,417,000 after purchasing an additional 784,976 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of CubeSmart by 5.5% during the 2nd quarter. Asset Management One Co. Ltd. now owns 520,796 shares of the real estate investment trust’s stock valued at $17,415,000 after purchasing an additional 27,069 shares during the last quarter. Hedge funds and other institutional investors own 98.90% of the company’s stock.

In other CubeSmart news, CFO Timothy M. Martin sold 32,028 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 214,264 shares in the company, valued at approximately $7,659,938. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher P. Marr sold 79,888 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $36.15, for a total value of $2,887,951.20. Following the completion of the sale, the chief executive officer now owns 403,687 shares of the company’s stock, valued at approximately $14,593,285.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,707 shares of company stock worth $4,669,870. 1.04% of the stock is owned by corporate insiders.



CUBE traded up $0.03 on Thursday, hitting $35.76. 691,299 shares of the company were exchanged, compared to its average volume of 1,287,152. The firm has a fifty day simple moving average of $35.27 and a two-hundred day simple moving average of $33.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.09 and a current ratio of 0.09. CubeSmart has a 12 month low of $27.19 and a 12 month high of $36.32. The stock has a market capitalization of $6.76 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 6.41 and a beta of 0.17.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.15). CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The company had revenue of $159.00 million for the quarter, compared to the consensus estimate of $158.86 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. CubeSmart’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that CubeSmart will post 1.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.32 per share. The ex-dividend date is Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 3.58%. CubeSmart’s payout ratio is 78.05%.

Several equities analysts have recently commented on CUBE shares. Bank of America lowered CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Robert W. Baird set a $35.00 price target on CubeSmart and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Stifel Nicolaus initiated coverage on CubeSmart in a research report on Monday, August 19th. They set a “hold” rating and a $35.00 price target on the stock. Zacks Investment Research lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Friday, September 6th. Finally, ValuEngine lowered CubeSmart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.17.

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 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.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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