CubeSmart (CUBE) and Raymond James Financial Inc. (RJF) Register Notable Insider Selling, Plus Insider Buying at Three Companies

Board Member of Self-Storage Real Estate Company Offloads Shares

Let’s move on to the set of noteworthy insider selling transactions reported with the U.S. SEC on Friday. Marianne M. Keler, member of CubeSmart (NYSE:CUBE)’s Board of Directors, discarded 40,000 shares on Wednesday at a price of $27.50 per share, cutting her ownership to 44,418 shares.

The integrated self-storage real estate company focused on the operation, development, leasing and management of self-storage facilities has seen its market cap fall by nearly 9% since the beginning of January. CubeSmart (NYSE:CUBE) owns 464 self-storage facilities that have around 32.0 million rentable square feet. The company’s rental income for the three months that ended June 30 increased to $111.5 million from $96.8 million, reflecting an increase in average occupancy of 80 basis points and higher rental rates. A total number of 17 smart money investors from our system had long positions in CubeSmart at the end of the second quarter, amassing around 5% of the company’s common stock. George Hall’s Clinton Group had 631,066 shares of CubeSmart (NYSE:CUBE) among its holdings on June 30.

Top Executives at Raymond James Financial Discard Shares

Two influential members of Raymond James Financial Inc. (NYSE:RJF)’s executive team discarded several sizable blocks of shares last week. To start with, Jeffery P. Julien, Executive Vice President of Finance, Chief Financial Officer and Treasurer, liquidated 18,600 shares on Thursday at prices that fell between $57.57 and $57.66 per share. Following the recent sale, Mr. Julien currently holds 46,407 shares. Chief Operating Officer Dennis William Zank discarded 10,010 shares last Monday at prices ranging from $57.55 to $57.76 per share, which trimmed his overall ownership to 148,369 shares.

The well-known financial services and bank holding company has enjoyed a great run in terms of stock performance since early February, as its shares are up an impressive 26% in the past six months. Although Raymond James Financial Inc. (NYSE:RJF)’s shares are down a little less than 1% year-to-date, the high stock performance observed over the past several months possibly justifies the recent jump in insider selling. The company’s net revenues for the June quarter grew 3% year-on-year to $1.36 billion, reflecting positive performance in each of its four operating segments. Ken Fisher’s Fisher Asset Management reported ownership of 1.59 million shares of Raymond James Financial Inc. (NYSE:RJF) through the latest round of 13Fs.

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