Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in CubeSmart (NYSE:CUBE)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CubeSmart (NYSE:CUBE) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,010 shares of the real estate investment trust’s stock after purchasing an additional 2,812 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of CubeSmart worth $6,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in shares of CubeSmart by 136.9% in the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 323 shares during the period. UMB Bank n.a. grew its position in CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 444 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CubeSmart in the 2nd quarter valued at $33,000. Peterson Financial Group Inc. purchased a new position in CubeSmart during the 3rd quarter worth $33,000. Finally, Quarry LP lifted its stake in shares of CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 757 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Trading Down 1.2 %

Shares of CubeSmart stock opened at $49.56 on Monday. CubeSmart has a fifty-two week low of $39.52 and a fifty-two week high of $55.14. The business’s fifty day moving average is $49.79 and its two-hundred day moving average is $48.09. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The firm has a market cap of $11.21 billion, a PE ratio of 28.00, a P/E/G ratio of 13.91 and a beta of 0.84.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. Analysts anticipate that CubeSmart will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Barclays reduced their price target on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Truist Financial boosted their price target on CubeSmart from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Evercore ISI lifted their price objective on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group boosted their target price on CubeSmart from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.36.

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, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.