Ensign Peak Advisors Inc boosted its position in CubeSmart (NYSE:CUBE – Get Rating) by 57.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,280 shares of the real estate investment trust’s stock after acquiring an additional 18,285 shares during the quarter. Ensign Peak Advisors Inc’s holdings in CubeSmart were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBE. PGGM Investments acquired a new position in CubeSmart in the third quarter valued at $108,885,000. Capital Research Global Investors acquired a new position in shares of CubeSmart during the first quarter worth about $137,023,000. Principal Financial Group Inc. lifted its stake in shares of CubeSmart by 21.3% during the second quarter. Principal Financial Group Inc. now owns 12,349,163 shares of the real estate investment trust’s stock worth $527,558,000 after purchasing an additional 2,167,266 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of CubeSmart by 96.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,484,402 shares of the real estate investment trust’s stock worth $148,854,000 after purchasing an additional 1,711,731 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of CubeSmart by 4.9% during the first quarter. Vanguard Group Inc. now owns 32,178,558 shares of the real estate investment trust’s stock worth $1,674,250,000 after purchasing an additional 1,515,436 shares in the last quarter. Institutional investors and hedge funds own 93.62% of the company’s stock.
CubeSmart Trading Down 1.5 %
NYSE:CUBE opened at $46.72 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a one year low of $36.82 and a one year high of $54.95. The business’s 50-day simple moving average is $44.35 and its 200 day simple moving average is $42.62. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57.
CubeSmart Dividend Announcement
Analyst Ratings Changes
A number of research analysts have commented on CUBE shares. Raymond James reduced their price objective on CubeSmart from $58.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Monday, January 9th. Wolfe Research started coverage on CubeSmart in a research note on Tuesday, January 17th. They set an “outperform” rating and a $48.00 price objective on the stock. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $47.00 to $41.00 in a research note on Monday, January 2nd. Finally, Truist Financial boosted their price objective on CubeSmart from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CubeSmart currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.
About CubeSmart
CubeSmart operates as a self-managed and self-administered real estate investment trust with its operations conducted solely through CubeSmart LP and its subsidiaries. It owns, operates, develops, manages, and acquires self-storage properties. The company was founded in July 2004 and is headquartered in Malvern, PA.
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