Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CubeSmart (NYSE:CUBE) by 3.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 58,915 shares of the real estate investment trust’s stock after buying an additional 1,763 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CubeSmart were worth $1,681,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Xact Kapitalforvaltning AB grew its stake in CubeSmart by 14.0% in the third quarter. Xact Kapitalforvaltning AB now owns 24,434 shares of the real estate investment trust’s stock valued at $697,000 after purchasing an additional 3,000 shares in the last quarter. Swiss National Bank grew its stake in CubeSmart by 1.1% in the second quarter. Swiss National Bank now owns 317,300 shares of the real estate investment trust’s stock valued at $10,223,000 after purchasing an additional 3,400 shares in the last quarter. Advisors Asset Management Inc. grew its stake in CubeSmart by 18.1% in the second quarter. Advisors Asset Management Inc. now owns 23,537 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 3,604 shares in the last quarter. Sun Life Financial INC bought a new position in CubeSmart in the second quarter valued at approximately $118,000. Finally, PNC Financial Services Group Inc. grew its stake in CubeSmart by 198.0% in the second 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.

A number of research firms have weighed in on CUBE. Zacks Investment Research upgraded CubeSmart from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. ValuEngine upgraded CubeSmart from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. SunTrust Banks set a $32.00 price target on CubeSmart and gave the company a “hold” rating in a research note on Tuesday, August 7th. Evercore ISI upgraded CubeSmart from an “in-line” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Monday, September 10th. Finally, Citigroup cut their price objective on CubeSmart from $33.00 to $29.00 and set a “hold” rating for the company in a research report on Friday, October 5th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.91.

CUBE opened at $31.42 on Wednesday. CubeSmart has a 12-month low of $25.22 and a 12-month high of $33.18. The company has a market capitalization of $5.80 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 3.84 and a beta of 0.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.97.

CubeSmart (NYSE:CUBE) last released its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.23 earnings per share (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 business had revenue of $153.37 million during the quarter, compared to analyst estimates of $150.76 million. As a group, equities research analysts anticipate that CubeSmart will post 1.64 earnings per share for the current fiscal year.

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CubeSmart 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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