Impact Partnership Wealth LLC Boosts Stock Position in CubeSmart (NYSE:CUBE)

Impact Partnership Wealth LLC raised its stake in shares of CubeSmart (NYSE:CUBE) by 21,859.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,929 shares of the real estate investment trust’s stock after acquiring an additional 5,902 shares during the period. Impact Partnership Wealth LLC’s holdings in CubeSmart were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in CubeSmart during the 1st quarter valued at approximately $26,000. Whittier Trust Co. raised its stake in CubeSmart by 136.9% during the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 323 shares during the last quarter. Rise Advisors LLC purchased a new stake in CubeSmart during the 1st quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new stake in CubeSmart during the 1st quarter valued at approximately $45,000. Finally, Quarry LP raised its stake in CubeSmart by 1,845.7% during the 4th quarter. Quarry LP now owns 1,362 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,292 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CubeSmart

In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the sale, the chief operating officer now owns 87,663 shares in the company, valued at approximately $4,205,194.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CubeSmart news, COO Joel D. Keaton sold 43,478 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $47.97, for a total transaction of $2,085,639.66. Following the transaction, the chief operating officer now owns 87,663 shares of the company’s stock, valued at approximately $4,205,194.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher P. Marr sold 37,000 shares of the stock in a transaction 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 directly owns 576,836 shares in the company, valued at approximately $27,947,704.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,217 shares of company stock worth $4,244,344. 1.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CUBE shares. BMO Capital Markets cut CubeSmart from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $50.00 to $47.00 in a research report on Wednesday, May 29th. Wells Fargo & Company boosted their target price on CubeSmart from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Truist Financial boosted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on CubeSmart from $51.00 to $52.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Raymond James boosted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.73.

CubeSmart Stock Performance

CUBE opened at $51.09 on Friday. The stock has a market cap of $11.51 billion, a P/E ratio of 28.38, a P/E/G ratio of 9.42 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s 50 day simple moving average is $48.15 and its 200 day simple moving average is $45.03. CubeSmart has a 1-year low of $33.17 and a 1-year high of $52.30.

CubeSmart (NYSE:CUBE) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.23). The company had revenue of $266.20 million for the quarter, compared to analyst estimates of $260.68 million. CubeSmart had a net margin of 38.07% and a return on equity of 14.37%. CubeSmart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. As a group, equities analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, October 1st. CubeSmart’s dividend payout ratio (DPR) is presently 113.33%.

About CubeSmart

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.