Is CubeSmart (NYSE:CUBE) the right investment to pursue these days? Investors who are in the know are turning bullish. The number of long hedge fund positions went up by 6 recently.
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Now, let’s take a gander at the key action encompassing CubeSmart (NYSE:CUBE).
What does the smart money think about CubeSmart (NYSE:CUBE)?
Heading into Q2, a total of 10 of the hedge funds we track were long in this stock, a change of 150% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their stakes meaningfully.
As aggregate interest increased, key money managers have been driving this bullishness. Balyasny Asset Management, managed by Dmitry Balyasny, initiated the biggest position in CubeSmart (NYSE:CUBE). Balyasny Asset Management had 2.5 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $1.8 million position during the quarter. The following funds were also among the new CUBE investors: Matthew Tewksbury’s Stevens Capital Management, Peter Rathjens Bruce Clarke and John Campbell’s Arrowstreet Capital, and Ken Griffin’s Citadel Investment Group.
How have insiders been trading CubeSmart (NYSE:CUBE)?
Insider buying is best served when the primary stock in question has experienced transactions within the past six months. Over the latest half-year time period, CubeSmart (NYSE:CUBE) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to CubeSmart (NYSE:CUBE). These stocks are Eastgroup Properties Inc (NYSE:EGP), First Industrial Realty Trust, Inc. (NYSE:FR), Potlatch Corporation (NASDAQ:PCH), Sovran Self Storage Inc (NYSE:SSS), and DCT Industrial Trust Inc. (NYSE:DCT). This group of stocks are the members of the reit – industrial industry and their market caps match CUBE’s market cap.
