November 30, 2016 - By Adrian Mccoy · 0 Comments
The stock of Cubesmart (NYSE:CUBE) registered an increase of 24.08% in short interest. CUBE’s total short interest was 6.34 million shares in November as published by FINRA. Its up 24.08% from 5.11M shares, reported previously. With 1.73 million shares average volume, it will take short sellers 4 days to cover their CUBE’s short positions. The short interest to Cubesmart’s float is 3.55%. About 697,865 shares traded hands. CubeSmart (NYSE:CUBE) has declined 18.02% since April 27, 2016 and is downtrending. It has underperformed by 23.24% the S&P500.
CubeSmart operates as a self-managed and self-administered real estate investment trust . The company has a market cap of $4.44 billion. The Company’s activities are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. It has a 47.03 P/E ratio. The Firm is focused primarily on the ownership, operation, management, acquisition and development of self-storage facilities in the United States.
Insitutional Activity: The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.04, from 0.98 in 2016Q1. The ratio increased, as 22 funds sold all CubeSmart shares owned while 96 reduced positions. 39 funds bought stakes while 77 increased positions. They now own 178.71 million shares or 0.94% less from 180.40 million shares in 2016Q1.
Security Cap Research Management holds 1.03 million shares or 1.08% of its portfolio. Laurion Cap Mngmt Limited Partnership holds 0% or 9,800 shares in its portfolio. Cap Fund Management Sa accumulated 49,920 shares or 0.01% of the stock. Cbre Clarion Limited Liability Com owns 6.48M shares or 1.57% of their US portfolio. Ny State Common Retirement Fund last reported 0.02% of its portfolio in the stock. Epoch Inv Partners last reported 0.12% of its portfolio in the stock. State Bank Of Montreal Can has 0.01% invested in the company for 171,443 shares. Schwab Charles Inv Management accumulated 1.29 million shares or 0.05% of the stock. Comml Bank Of America Corp De holds 0.02% or 2.14M shares in its portfolio. The Minnesota-based Ameriprise Financial has invested 0.03% in CubeSmart (NYSE:CUBE). Rainier Inv Management Ltd Limited Liability Company reported 263,890 shares or 0.39% of all its holdings. Thrivent Fincl For Lutherans accumulated 0.02% or 102,922 shares. Lmr Prtn Llp has 0.64% invested in the company for 134,517 shares. Wfg Advsrs L P, a Texas-based fund reported 161 shares. Nuveen Asset Ltd Company, a Illinois-based fund reported 649,814 shares.
Insider Transactions: Since August 31, 2016, the stock had 0 insider buys, and 2 selling transactions for $1.18 million net activity. KELER MARIANNE M sold 40,000 shares worth $1.10M. DIEFENDERFER WILLIAM M III also sold $80,689 worth of CubeSmart (NYSE:CUBE) shares.
Out of 11 analysts covering CubeSmart (NYSE:CUBE), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. CubeSmart has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Robert W. Baird on Thursday, July 23. The firm has “Buy” rating by Jefferies given on Wednesday, August 10. Citigroup maintained the stock with “Neutral” rating in Thursday, May 12 report. The company was initiated on Friday, June 24 by DA Davidson. Raymond James downgraded CubeSmart (NYSE:CUBE) on Friday, November 13 to “Outperform” rating. The rating was maintained by Evercore on Tuesday, September 8 with “Buy”. BB&T Capital initiated it with “Buy” rating and $32.50 target price in Wednesday, November 11 report. FBR Capital initiated CubeSmart (NYSE:CUBE) on Thursday, June 23 with “Outperform” rating. The rating was downgraded by Evercore on Monday, March 21 to “Hold”.
CubeSmart, incorporated on July 26, 2004, operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s activities are conducted solely through CubeSmart, L.P. (the Operating Partnership) and its subsidiaries. The Firm is 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 clients with features, such as wide aisles and loadbearing capabilities for large truck access. The Company’s self-storage facilities are located in metropolitan areas, as well as suburban areas. The Firm owns over 440 self-storage facilities located in over 20 states and in the District of Columbia containing an aggregate of approximately 30.4 million rentable square feet. It also enables the clients to rent storage cubes for their use, typically on a month-to-month basis.
Another recent and important CubeSmart (NYSE:CUBE) news was published by Forbes.com which published an article titled: “CubeSmart is Oversold” on August 30, 2016.
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By Adrian Mccoy