Zurcher Kantonalbank Zurich Cantonalbank Has $7.24 Million Stake in CubeSmart (NYSE:CUBE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in CubeSmart (NYSE:CUBE - Free Report) by 34.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,881 shares of the real estate investment trust's stock after purchasing an additional 42,871 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of CubeSmart worth $7,237,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. lifted its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after buying an additional 289 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after buying an additional 389 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 559 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $33,000. 97.61% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

CUBE has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Scotiabank downgraded shares of CubeSmart from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $52.00 to $46.00 in a research note on Wednesday, March 5th. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a "sell" rating to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Finally, Barclays reduced their target price on CubeSmart from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $48.00.

CubeSmart Price Performance

Shares of CUBE traded up $0.39 during mid-day trading on Monday, reaching $42.06. The company had a trading volume of 961,085 shares, compared to its average volume of 1,334,018. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 11.58 and a beta of 0.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company's 50 day simple moving average is $41.73 and its 200 day simple moving average is $46.44. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.23. The firm had revenue of $231.41 million for the quarter, compared to analyst estimates of $267.54 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. Analysts expect that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. CubeSmart's dividend payout ratio is 120.93%.

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.