Stocks of CubeSmart (NYSE:CUBE) rallied by 1.22% during the past week but lost 3.92% on a 4-week basis. The company has outperformed the S&P 500 by 2.43% in the past week but underperformed the index by 4.79% in the last 4 weeks.
CubeSmart (NYSE:CUBE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.97 and $29.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.94, notching a gain of 0.10% for the day. The total traded volume was 4,190,255 . The stock had closed at $29.91 on the previous day.
The company shares have rallied 26.01% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $33.52 and the one year low was seen on Jun 29, 2015. The 50-Day Moving Average price is $31.10 and the 200 Day Moving Average price is recorded at $30.87.
On the companys insider trading activities, 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.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Citigroup maintains the rating on CubeSmart (NYSE:CUBE). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency raises the price target from $30 per share to $32 per share. The rating by the firm was issued on May 12, 2016. Currently the company Insiders own 1.13% of CubeSmart shares according to the proxy statements.
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).