SeaCrest Wealth Management LLC bought a new position in shares of CubeSmart (NYSE:CUBE – Get Rating) during the 2nd quarter, Holdings Channel reports. The firm bought 1,250 shares of the real estate investment trust’s stock, valued at approximately $53,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mastrapasqua Asset Management Inc. acquired a new position in CubeSmart during the 2nd quarter worth about $978,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of CubeSmart by 5.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 93,371 shares of the real estate investment trust’s stock worth $4,858,000 after purchasing an additional 4,534 shares in the last quarter. Trek Financial LLC bought a new stake in shares of CubeSmart during the first quarter valued at approximately $201,000. Versor Investments LP increased its holdings in shares of CubeSmart by 32.2% in the first quarter. Versor Investments LP now owns 12,694 shares of the real estate investment trust’s stock valued at $660,000 after purchasing an additional 3,094 shares in the last quarter. Finally, Cohen & Steers Inc. raised its position in CubeSmart by 49.8% in the 1st quarter. Cohen & Steers Inc. now owns 8,523,778 shares of the real estate investment trust’s stock worth $443,492,000 after purchasing an additional 2,831,801 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently commented on CUBE shares. Truist Financial lifted their target price on CubeSmart from $48.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 22nd. Raymond James boosted their price objective on CubeSmart from $52.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 16th. StockNews.com initiated coverage on shares of CubeSmart in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI dropped their price target on shares of CubeSmart from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, September 19th. Finally, UBS Group initiated coverage on shares of CubeSmart in a research note on Monday, October 17th. They issued a “buy” rating and a $45.00 price objective on the stock. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.83.
CubeSmart Stock Up 1.9 %
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 2020 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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