A substantial insider activity was disclosed on May 6, as Keaton, COO at CubeSmart (NYSE:CUBE), reported the exercise of a large sell of company stock options.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Keaton, COO at CubeSmart, a company in the Real Estate sector, just exercised stock options worth 57,422 shares of CUBE stock with an exercise price of $27.82.
As of Tuesday morning, CubeSmart shares are down by 0.0%, with a current price of $41.85. This implies that Keaton's 57,422 shares have a value of $805,583.
About CubeSmart
CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. The company's real estate portfolio is composed of buildings with numerous enclosed storage areas for both residential and commercial customers to rent mainly on a month-by-month basis. Most of CubeSmart's facilities are located in Florida, Texas, California, New York, and Illinois. Cumulatively, these states account for both the majority of the square footage in the company's real estate portfolio and the majority of its revenue. The company derives nearly all of its revenue from rental income from tenants utilizing its storage facilities.
CubeSmart's Economic Impact: An Analysis
Revenue Growth: CubeSmart's revenue growth over a period of 3 months has ...