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

Pacer Advisors Inc. decreased its holdings in CubeSmart (NYSE:CUBE - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 217,031 shares of the real estate investment trust's stock after selling 20,664 shares during the quarter. 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 modified their holdings of the stock. Whittier Trust Co. lifted its stake in CubeSmart by 136.9% during the second 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. UMB Bank n.a. lifted its position in shares of CubeSmart by 302.0% in the 3rd quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 444 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in CubeSmart in the 3rd quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC purchased a new position in CubeSmart during the 2nd quarter worth approximately $33,000. Finally, Quarry LP grew its position in CubeSmart by 195.6% during the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 757 shares in the last quarter. Institutional investors own 97.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CUBE. Jefferies Financial Group increased their target price on CubeSmart from $53.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. UBS Group downgraded CubeSmart from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $53.00 to $54.00 in a research note on Friday, September 13th. Barclays lowered their target price on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company increased their price target on shares of CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada decreased their price target on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $51.45.

CubeSmart Stock Up 0.6 %

CUBE stock traded up $0.31 during trading hours on Friday, hitting $48.91. The company's stock had a trading volume of 1,047,083 shares, compared to its average volume of 1,389,671. The stock has a 50 day moving average price of $50.21 and a two-hundred day moving average price of $47.86. CubeSmart has a 12 month low of $38.29 and a 12 month high of $55.14. The company has a market capitalization of $11.06 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 13.73 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 (NYSE:CUBE - Get Free Report) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.24). The business had revenue of $270.90 million for the quarter, compared to analyst estimates of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Company 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.