CubeSmart (CUBE) SVP Jonathan L. Perry Sells 20,270 Shares
CubeSmart (NYSE:CUBE) SVP Jonathan L. Perry sold 20,270 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $29.37, for a total transaction of $595,329.90. Following the transaction, the senior vice president now directly owns 67,197 shares in the company, valued at approximately $1,973,575.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of CubeSmart (NYSE:CUBE) traded up $0.02 during mid-day trading on Thursday, reaching $29.32. 1,835,400 shares of the company traded hands, compared to its average volume of 1,633,230. CubeSmart has a 1 year low of $22.83 and a 1 year high of $29.67. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $5,299.83, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.22.
Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of CubeSmart by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 370 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of CubeSmart by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 283 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of CubeSmart in the third quarter worth $200,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of CubeSmart in the third quarter worth $211,000. Finally, Profund Advisors LLC acquired a new stake in shares of CubeSmart in the second quarter worth $214,000.
Several equities analysts recently issued reports on the stock. Jefferies Group set a $33.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research note on Tuesday, November 28th. Robert W. Baird downgraded shares of CubeSmart from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $27.00 to $29.00 in a research note on Tuesday, November 28th. B. Riley set a $32.00 price objective on shares of CubeSmart and gave the company a “buy” rating in a research note on Tuesday, November 14th. BidaskClub raised shares of CubeSmart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $25.00 price target on shares of CubeSmart in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.60.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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