Holocene Advisors LP Sells 26,097 Shares of CubeSmart (NYSE:CUBE)

Holocene Advisors LP trimmed its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,746 shares of the real estate investment trust's stock after selling 26,097 shares during the period. Holocene Advisors LP's holdings in CubeSmart were worth $4,993,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its holdings in shares of CubeSmart by 136.9% during the second quarter. Whittier Trust Co. now owns 559 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 323 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of CubeSmart by 302.0% during the third quarter. UMB Bank n.a. now owns 591 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 444 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of CubeSmart during the second quarter worth about $33,000. Peterson Financial Group Inc. bought a new stake in CubeSmart in the 3rd quarter worth approximately $33,000. Finally, Quarry LP lifted its position in CubeSmart by 195.6% in the 2nd quarter. Quarry LP now owns 1,144 shares of the real estate investment trust's stock worth $52,000 after buying an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CUBE shares. Wells Fargo & Company boosted their target price on CubeSmart from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Royal Bank of Canada dropped their target price on CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Truist Financial boosted their target price on CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. Barclays lowered their price objective on CubeSmart from $55.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. Finally, Scotiabank lowered their price objective on CubeSmart from $53.00 to $52.00 and set a "sector outperform" rating for the company in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $51.36.

CubeSmart Stock Down 0.9 %

CUBE stock traded down $0.44 during midday trading on Thursday, hitting $47.53. The stock had a trading volume of 1,526,481 shares, compared to its average volume of 1,351,528. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 13.57 and a beta of 0.84. The business has a 50-day moving average of $49.47 and a two-hundred day moving average of $48.19. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) 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 the consensus estimate of $0.68 by ($0.24). The firm had revenue of $270.90 million during the quarter, compared to analysts' expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal 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.