CubeSmart (CUBE) : Grs Advisors reduced its stake in CubeSmart by 11.37% during the most recent quarter end. The investment management company now holds a total of 562,687 shares of CubeSmart which is valued at $15,890,281 after selling 72,214 shares in CubeSmart , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CubeSmart makes up approximately 4.29% of Grs Advisors’s portfolio.
Other Hedge Funds, Including , Castle Ridge Investment Management Lp reduced its stake in CUBE by selling 7,500 shares or 8.17% in the most recent quarter. The Hedge Fund company now holds 84,251 shares of CUBE which is valued at $2,379,248. CubeSmart makes up approx 1.33% of Castle Ridge Investment Management Lp’s portfolio.Proshare Advisors reduced its stake in CUBE by selling 24,548 shares or 34.89% in the most recent quarter. The Hedge Fund company now holds 45,808 shares of CUBE which is valued at $1,293,618. CubeSmart makes up approx 0.02% of Proshare Advisors’s portfolio.Loomis Sayles Co L P boosted its stake in CUBE in the latest quarter, The investment management firm added 42,127 additional shares and now holds a total of 737,912 shares of CubeSmart which is valued at $20,838,635. CubeSmart makes up approx 0.05% of Loomis Sayles Co L P’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in CUBE by selling 2,495 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 6,489,391 shares of CUBE which is valued at $183,260,402. CubeSmart makes up approx 0.03% of Blackrock Institutional Trust Company N.a.’s portfolio. Ausdal Financial Partners added CUBE to its portfolio by purchasing 8,250 company shares during the most recent quarter which is valued at $245,108. CubeSmart makes up approx 0.12% of Ausdal Financial Partners’s portfolio.
CubeSmart opened for trading at $27.53 and hit $28.12 on the upside on Thursday, eventually ending the session at $27.89, with a gain of 1.31% or 0.36 points. The heightened volatility saw the trading volume jump to 17,21,010 shares. Company has a market cap of $5,000 M.
On the company’s financial health, CubeSmart reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.35. The company had revenue of $126.53 million for the quarter, compared to analysts expectations of $125.04 million. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on CubeSmart. CubeSmart was Downgraded by SunTrust to ” Neutral” on Jul 25, 2016. DA Davidson Initiated CubeSmart on Jun 24, 2016 to “Neutral”, Price Target of the shares are set at $35.CubeSmart was Initiated by FBR Capital to “Outperform” on Jun 23, 2016.
CubeSmart is a self-administered and self-managed real estate company focused primarily on the ownership operation management acquisition and development of self-storage facilities in the United States. The Company’s self-storage facilities offer storage space for its residential and commercial customers with features such as wide aisles and loadbearing capabilities for large truck access. As of December 31 2014 the Company owned 421 self-storage facilities located in 22 states of the United States and in the District of Columbia containing an aggregate of approximately 28.6 million rentable square feet. As of December 31 2014 the Company managed 174 facilities for third parties (including 35 facilities containing an aggregate of approximately 2.4 million rentable square feet as part of an unconsolidated real estate venture in which it owns a 50% interest).