CubeSmart (CUBE) : Traders are negative on CubeSmart (CUBE), as it has 2.3% of short positions outstanding compared to its float. The total shorts have reduced by -64,062 shares, which is a -1.6% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,4,048,297 to 3,984,235 shares. While the daily trading volume of the stock is 2,111,692, there are 2 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
CubeSmart (NYSE:CUBE): The stock opened at $27.54 on Wednesday but the bulls could not build on the opening and the stock topped out at $27.54 for the day. The stock traded down to $27.14 during the day, due to lack of any buying support eventually closed down at $27.36 with a loss of -0.65% for the day. The stock had closed at $27.54 on the previous day. The total traded volume was 1,369,226 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (CFO) of Cubesmart, Martin Timothy M had sold 110,046 shares worth of $2,886,507 in a transaction dated August 10, 2015. In this transaction, 110,046 shares were sold at $26.23 per share.
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 Companys 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).