Westpac Banking Corp cut its holdings in CubeSmart (NYSE:CUBE) by 47.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,399 shares of the real estate investment trust’s stock after selling 330,505 shares during the period. Westpac Banking Corp owned about 0.21% of CubeSmart worth $9,642,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CUBE. Neuberger Berman Group LLC purchased a new position in shares of CubeSmart during the first quarter worth about $222,000. Teachers Advisors LLC grew its holdings in shares of CubeSmart by 9.5% during the first quarter. Teachers Advisors LLC now owns 241,560 shares of the real estate investment trust’s stock worth $6,271,000 after purchasing an additional 20,946 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CubeSmart by 31.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,306 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CubeSmart by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,413,403 shares of the real estate investment trust’s stock worth $62,650,000 after purchasing an additional 23,398 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of CubeSmart by 137.6% during the first quarter. UBS Group AG now owns 19,029 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 11,020 shares during the last quarter.
Several equities analysts have issued reports on CUBE shares. BidaskClub raised CubeSmart from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Bank of America Corporation lowered CubeSmart from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $27.75 to $25.00 in a report on Thursday, July 20th. Zacks Investment Research lowered CubeSmart from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Jefferies Group LLC set a $30.00 price objective on CubeSmart and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of CubeSmart in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.67.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
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