Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CubeSmart (NYSE:CUBE) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,380 shares of the real estate investment trust’s stock after purchasing an additional 5,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CubeSmart were worth $1,801,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in CUBE. The Manufacturers Life Insurance Company raised its holdings in shares of CubeSmart by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,341 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 370 shares during the period. Commonwealth Bank of Australia grew its position in CubeSmart by 3.9% during the second quarter. Commonwealth Bank of Australia now owns 7,568 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 283 shares in the last quarter. World Asset Management Inc purchased a new position in CubeSmart during the third quarter valued at approximately $200,000. Profund Advisors LLC purchased a new position in CubeSmart during the second quarter valued at approximately $214,000. Finally, Comerica Bank purchased a new position in CubeSmart during the third quarter valued at approximately $220,000.
Several analysts have commented on CUBE shares. Jefferies Group set a $30.00 target price on shares of CubeSmart and gave the stock a “buy” rating in a research report on Friday, August 18th. FBR & Co reaffirmed a “buy” rating and set a $32.00 price objective on shares of CubeSmart in a report on Friday, October 27th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $28.00 price objective on shares of CubeSmart in a report on Thursday, October 26th. BidaskClub upgraded shares of CubeSmart from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Robert W. Baird reiterated a “buy” rating and set a $27.00 target price on shares of CubeSmart in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.60.
Shares of CubeSmart (NYSE:CUBE) opened at $29.28 on Tuesday. The company has a market cap of $5,182.25, a PE ratio of 18.48, a price-to-earnings-growth ratio of 3.71 and a beta of 0.22. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.00. CubeSmart has a fifty-two week low of $22.83 and a fifty-two week high of $29.67.
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CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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