CubeSmart (NYSE:CUBE) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its stake in CubeSmart (NYSE:CUBE) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,031 shares of the real estate investment trust’s stock after selling 20,664 shares during the period. Pacer Advisors Inc. owned 0.10% of CubeSmart worth $11,683,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in CubeSmart by 1,575.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,820,434 shares of the real estate investment trust’s stock worth $82,277,000 after purchasing an additional 1,711,762 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in CubeSmart by 26.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,687,536 shares of the real estate investment trust’s stock worth $257,191,000 after buying an additional 1,205,097 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in CubeSmart by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,089,845 shares of the real estate investment trust’s stock valued at $273,986,000 after acquiring an additional 624,661 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in CubeSmart by 12.5% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,728,220 shares of the real estate investment trust’s stock valued at $123,234,000 after acquiring an additional 303,347 shares in the last quarter. Finally, Sei Investments Co. boosted its position in CubeSmart by 38.2% during the 2nd quarter. Sei Investments Co. now owns 762,172 shares of the real estate investment trust’s stock worth $34,427,000 after acquiring an additional 210,871 shares during the period. 97.61% of the stock is owned by institutional investors.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $48.91 on Friday. The stock’s fifty day simple moving average is $50.21 and its 200 day simple moving average is $47.82. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 13.65 and a beta of 0.84. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 52-week low of $38.29 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.24). CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. During the same period in the prior year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CUBE. Jefferies Financial Group raised their price target on CubeSmart from $53.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Scotiabank began coverage on shares of CubeSmart in a research report on Thursday, August 22nd. They set a “sector outperform” rating and a $53.00 price target on the stock. UBS Group cut shares of CubeSmart from a “buy” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $54.00 in a report on Friday, September 13th. Evercore ISI boosted their target price on CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Truist Financial increased their price target on CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CubeSmart currently has an average rating of “Hold” and an average price target of $51.45.

About CubeSmart

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.