Pacer Advisors Inc. Has $11.68 Million Stock Position in CubeSmart (NYSE:CUBE)

Pacer Advisors Inc. cut its holdings in shares of CubeSmart (NYSE:CUBE) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 217,031 shares of the real estate investment trust’s stock after selling 20,664 shares during the quarter. Pacer Advisors Inc.’s holdings in CubeSmart were worth $11,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC Asset Management Inc increased its stake in shares of CubeSmart by 3.6% in the third quarter. CIBC Asset Management Inc now owns 6,642 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 233 shares during the last quarter. Mirador Capital Partners LP increased its position in CubeSmart by 1.6% in the 3rd quarter. Mirador Capital Partners LP now owns 15,875 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 248 shares during the last quarter. Presima Securities ULC raised its stake in shares of CubeSmart by 2.9% during the 3rd quarter. Presima Securities ULC now owns 10,600 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of CubeSmart by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,425 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 311 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of CubeSmart by 136.9% in the 2nd quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $48.91 on Friday. CubeSmart has a 12 month low of $38.29 and a 12 month high of $55.14. The company has a market cap of $11.06 billion, a P/E ratio of 27.63, a P/E/G ratio of 13.65 and a beta of 0.84. The business’s 50 day moving average is $50.21 and its two-hundred day moving average is $47.82. 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 (NYSE:CUBE) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $267.49 million. During the same period last year, the firm posted $0.68 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts expect that CubeSmart will post 2.64 EPS for the current year.

Analysts Set New Price Targets

CUBE has been the topic of several recent research reports. Royal Bank of Canada cut their price objective on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Truist Financial lifted their price objective on shares of CubeSmart from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, August 16th. 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 target price on the stock. Wells Fargo & Company boosted their price target on CubeSmart from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Barclays lowered their price objective on CubeSmart from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.45.

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.