Loomis Sayles & Co. L P raised its holdings in CubeSmart (NYSE:CUBE) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 613,217 shares of the real estate investment trust’s stock after acquiring an additional 18,648 shares during the quarter. Loomis Sayles & Co. L P’s holdings in CubeSmart were worth $17,495,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sun Life Financial INC acquired a new stake in shares of CubeSmart in the 2nd quarter valued at $118,000. Contravisory Investment Management Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter valued at $125,000. Centaurus Financial Inc. acquired a new stake in shares of CubeSmart in the 2nd quarter valued at $154,000. PNC Financial Services Group Inc. boosted its holdings in shares of CubeSmart by 198.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,548 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 3,686 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of CubeSmart in the 2nd quarter valued at $208,000.

A number of equities research analysts have weighed in on the company. Bank of America raised CubeSmart from a “neutral” rating to a “buy” rating and set a $25.22 target price on the stock in a report on Thursday, November 15th. Zacks Investment Research raised CubeSmart from a “sell” rating to a “hold” rating in a report on Monday, October 29th. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 target price on shares of CubeSmart in a report on Thursday, October 25th. ValuEngine raised CubeSmart from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Finally, Citigroup reduced their target price on CubeSmart from $33.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. CubeSmart currently has an average rating of “Buy” and an average price target of $31.91.

Shares of CUBE opened at $32.39 on Friday. CubeSmart has a 52 week low of $25.22 and a 52 week high of $33.18. The firm has a market capitalization of $5.85 billion, a PE ratio of 20.37, a PEG ratio of 3.85 and a beta of 0.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.18). CubeSmart had a net margin of 26.43% and a return on equity of 9.34%. The firm had revenue of $153.37 million during the quarter, compared to the consensus estimate of $150.76 million. As a group, analysts expect that CubeSmart will post 1.64 EPS for the current year.

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CubeSmart Company Profile

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 2018 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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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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