Pacer Advisors Inc. Sells 30,127 Shares of CubeSmart (NYSE:CUBE)

Pacer Advisors Inc. lowered its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,904 shares of the real estate investment trust's stock after selling 30,127 shares during the quarter. Pacer Advisors Inc. owned approximately 0.08% of CubeSmart worth $8,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in CubeSmart by 9,614.3% during the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 673 shares during the last quarter. Blue Trust Inc. raised its stake in shares of CubeSmart by 74.9% during the fourth quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock worth $29,000 after buying an additional 289 shares during the last quarter. UMB Bank n.a. lifted its holdings in CubeSmart by 302.0% in the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 444 shares during the period. Peterson Financial Group Inc. bought a new position in CubeSmart in the third quarter valued at approximately $33,000. Finally, Quarry LP grew its holdings 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 acquiring an additional 757 shares during the period. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Price Performance

Shares of CUBE stock traded up $0.41 during trading hours on Thursday, reaching $41.90. The company's stock had a trading volume of 991,188 shares, compared to its average volume of 1,564,093. CubeSmart has a fifty-two week low of $39.80 and a fifty-two week high of $55.14. The firm's 50 day simple moving average is $44.21 and its 200-day simple moving average is $47.95. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 11.20 and a beta of 0.87.

CubeSmart (NYSE:CUBE - Get Free Report) last released 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). The business had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from CubeSmart's previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 4.96%. CubeSmart's payout ratio is 117.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CUBE shares. Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Friday, January 10th. Royal Bank of Canada lowered their price target on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Barclays reduced their price objective on shares of CubeSmart from $54.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group downgraded shares of CubeSmart from a "buy" rating to a "hold" rating and lowered their target price for the company from $57.00 to $46.00 in a research note on Thursday, January 2nd. Finally, Scotiabank reduced their price target on shares of CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating on the stock in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CubeSmart has an average rating of "Hold" and a consensus price target of $49.73.

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.