Pictet Asset Management SA Increases Stock Holdings in CubeSmart (NYSE:CUBE)

Pictet Asset Management SA increased its holdings in shares of CubeSmart (NYSE:CUBEGet Rating) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,450 shares of the real estate investment trust’s stock after buying an additional 3,622 shares during the quarter. Pictet Asset Management SA’s holdings in CubeSmart were worth $3,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in CubeSmart during the 2nd quarter valued at about $53,000. Shell Asset Management Co. grew its stake in CubeSmart by 14.9% during the 2nd quarter. Shell Asset Management Co. now owns 14,033 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 1,823 shares during the last quarter. Foster & Motley Inc. grew its stake in CubeSmart by 10.6% during the 2nd quarter. Foster & Motley Inc. now owns 82,892 shares of the real estate investment trust’s stock valued at $3,541,000 after purchasing an additional 7,966 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in CubeSmart by 49.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,259 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 2,745 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in CubeSmart by 6.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 31,956 shares of the real estate investment trust’s stock valued at $1,365,000 after purchasing an additional 1,826 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CUBE shares. Evercore ISI decreased their price objective on CubeSmart from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, September 19th. StockNews.com started coverage on CubeSmart in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James boosted their price objective on CubeSmart from $52.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, August 16th. TheStreet raised CubeSmart from a “c+” rating to a “b-” rating in a report on Friday, August 5th. Finally, UBS Group started coverage on CubeSmart in a report on Monday, October 17th. They issued a “buy” rating and a $45.00 price objective for the company. Three research 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 stock. According to MarketBeat, CubeSmart currently has a consensus rating of “Moderate Buy” and an average price target of $52.83.

CubeSmart Stock Performance

NYSE CUBE opened at $40.54 on Monday. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 1.90 and a beta of 0.54. CubeSmart has a twelve month low of $36.82 and a twelve month high of $57.34. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average of $40.33 and a 200 day moving average of $42.98.

CubeSmart Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBEGet Rating).

Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.