Deutsche Bank AG raised its holdings in CubeSmart (NYSE:CUBE – Get Rating) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,519 shares of the real estate investment trust’s stock after acquiring an additional 4,509 shares during the period. Deutsche Bank AG’s holdings in CubeSmart were worth $7,798,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CUBE. abrdn plc grew its position in CubeSmart by 3.3% in the first quarter. abrdn plc now owns 47,836 shares of the real estate investment trust’s stock valued at $2,544,000 after acquiring an additional 1,534 shares during the last quarter. Envestnet Asset Management Inc. grew its position in CubeSmart by 5.8% in the first quarter. Envestnet Asset Management Inc. now owns 120,098 shares of the real estate investment trust’s stock valued at $6,249,000 after acquiring an additional 6,532 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of CubeSmart by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 167,027 shares of the real estate investment trust’s stock worth $8,690,000 after purchasing an additional 862 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of CubeSmart by 4.6% during the first quarter. Victory Capital Management Inc. now owns 54,747 shares of the real estate investment trust’s stock worth $2,601,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of CubeSmart during the first quarter worth about $33,000. Institutional investors own 96.60% of the company’s stock.
CubeSmart Price Performance
CubeSmart stock opened at $38.91 on Tuesday. The stock’s 50 day moving average is $39.82 and its 200 day moving average is $42.86. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $8.74 billion, a P/E ratio of 34.13, a P/E/G ratio of 1.90 and a beta of 0.54. CubeSmart has a one year low of $36.82 and a one year high of $57.34.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. TheStreet upgraded CubeSmart from a “c+” rating to a “b-” rating in a report on Friday, August 5th. Evercore ISI reduced their price target on CubeSmart from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, September 19th. UBS Group assumed coverage on CubeSmart in a report on Monday, October 17th. They set a “buy” rating and a $45.00 price target on the stock. Truist Financial boosted their price target on CubeSmart from $48.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 22nd. Finally, StockNews.com began coverage on CubeSmart in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.83.
About CubeSmart
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CubeSmart is a self-administered and self-managed real estate investment trust. The Company’s self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
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