Macquarie Group Ltd. Sells 86,688 Shares of CubeSmart (CUBE)
Macquarie Group Ltd. decreased its position in shares of CubeSmart (NYSE:CUBE) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 587,189 shares of the company’s stock after selling 86,688 shares during the period. Macquarie Group Ltd. owned about 0.33% of CubeSmart worth $18,132,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CUBE. Vanguard Group Inc. boosted its position in CubeSmart by 2.7% in the second quarter. Vanguard Group Inc. now owns 26,306,322 shares of the company’s stock worth $812,340,000 after buying an additional 684,804 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its position in CubeSmart by 31.2% in the second quarter. Lasalle Investment Management Securities LLC now owns 9,657,551 shares of the company’s stock worth $298,225,000 after buying an additional 2,296,747 shares during the last quarter. Cbre Clarion Securities LLC boosted its position in CubeSmart by 13.2% in the second quarter. Cbre Clarion Securities LLC now owns 6,484,347 shares of the company’s stock worth $200,237,000 after buying an additional 753,661 shares during the last quarter. Bank of New York Mellon Corp boosted its position in CubeSmart by 48.5% in the second quarter. Bank of New York Mellon Corp now owns 4,414,663 shares of the company’s stock worth $136,326,000 after buying an additional 1,442,685 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CubeSmart by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,324,568 shares of the company’s stock worth $71,781,000 after buying an additional 79,734 shares during the last quarter.
CubeSmart (NYSE:CUBE) traded down 0.29% during trading on Friday, hitting $24.21. The stock had a trading volume of 491,057 shares. The company’s 50 day moving average is $25.50 and its 200-day moving average is $28.39. CubeSmart has a 12 month low of $23.65 and a 12 month high of $33.52. The company has a market cap of $4.36 billion, a PE ratio of 46.38 and a beta of 0.34.
CubeSmart (NYSE:CUBE) last posted its earnings results on Thursday, October 27th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $131.19 million. CubeSmart had a return on equity of 5.84% and a net margin of 19.93%. CubeSmart’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts predict that CubeSmart will post $1.41 earnings per share for the current year.
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A number of research firms recently commented on CUBE. FBR & Co set a $35.00 price target on CubeSmart and gave the stock a “buy” rating in a report on Sunday, September 18th. Evercore ISI cut CubeSmart from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Cantor Fitzgerald reissued a “buy” rating on shares of CubeSmart in a report on Friday, October 28th. Jefferies Group lowered their price target on CubeSmart from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, Zacks Investment Research cut CubeSmart from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. CubeSmart has an average rating of “Buy” and a consensus price target of $33.11.
In other CubeSmart news, Director William M. Diefenderfer III sold 2,961 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $27.25, for a total value of $80,687.25. Following the sale, the director now directly owns 128,486 shares of the company’s stock, valued at $3,501,243.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.13% of the company’s stock.
CubeSmart operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s operations are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Company is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.
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