Foster & Motley Inc. reduced its position in shares of CubeSmart (NYSE:CUBE – Free Report) by 68.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,532 shares of the real estate investment trust’s stock after selling 9,840 shares during the quarter. Foster & Motley Inc.’s holdings in CubeSmart were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in CubeSmart by 72.5% in the 4th quarter. Signaturefd LLC now owns 695 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 292 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in CubeSmart in the 4th quarter worth $37,000. Private Trust Co. NA raised its holdings in CubeSmart by 182.9% in the 4th quarter. Private Trust Co. NA now owns 1,389 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 898 shares in the last quarter. Covestor Ltd raised its holdings in CubeSmart by 65.8% in the 3rd quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 573 shares in the last quarter. Finally, ZRC Wealth Management LLC bought a new position in CubeSmart in the 4th quarter worth $104,000. 97.61% of the stock is currently owned by institutional investors.
CubeSmart Price Performance
Shares of NYSE:CUBE opened at $41.38 on Friday. The firm’s 50 day moving average price is $43.81 and its 200-day moving average price is $42.26. CubeSmart has a twelve month low of $33.17 and a twelve month high of $47.81. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $9.31 billion, a PE ratio of 22.86 and a beta of 0.69.
CubeSmart Dividend Announcement
Wall Street Analysts Forecast Growth
CUBE has been the subject of several research reports. Evercore ISI increased their price target on shares of CubeSmart from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, March 4th. Barclays began coverage on shares of CubeSmart in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $48.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They set a “sell” rating and a $40.00 price objective on the stock. Raymond James reissued an “outperform” rating and set a $48.00 price objective on shares of CubeSmart in a research report on Thursday, March 28th. Finally, Truist Financial increased their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.33.
Check Out Our Latest Stock Report on CUBE
CubeSmart Company 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.
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