Vestcor Inc Has $2.35 Million Stake in CubeSmart (NYSE:CUBE)

Vestcor Inc lifted its holdings in CubeSmart (NYSE:CUBE - Free Report) by 129.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,622 shares of the real estate investment trust's stock after buying an additional 24,595 shares during the period. Vestcor Inc's holdings in CubeSmart were worth $2,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CUBE. Boston Trust Walden Corp increased its holdings in CubeSmart by 2.7% in the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust's stock worth $39,947,000 after buying an additional 23,179 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of CubeSmart by 32.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust's stock worth $8,531,000 after purchasing an additional 39,270 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of CubeSmart by 127.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,013 shares of the real estate investment trust's stock valued at $1,777,000 after purchasing an additional 18,475 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of CubeSmart by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust's stock valued at $29,406,000 after purchasing an additional 173,683 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in CubeSmart in the third quarter worth $1,452,000. Hedge funds and other institutional investors own 97.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CUBE shares. Truist Financial boosted their price target on CubeSmart from $44.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, August 16th. 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. Wells Fargo & Company increased their price target on CubeSmart from $48.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Royal Bank of Canada reduced their price objective on shares of CubeSmart from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Finally, UBS Group lowered shares of CubeSmart from a "buy" rating to a "neutral" rating and raised their target price for the company from $53.00 to $54.00 in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $51.36.

CubeSmart Stock Performance

Shares of CUBE traded down $0.21 during trading hours on Wednesday, reaching $46.66. 1,477,656 shares of the company traded hands, compared to its average volume of 1,350,271. CubeSmart has a 1-year low of $39.80 and a 1-year high of $55.14. The stock has a market cap of $10.55 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 13.34 and a beta of 0.84. The stock's fifty day moving average is $48.89 and its 200 day moving average is $48.34. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.24). The firm had revenue of $270.90 million during the quarter, compared to the consensus estimate of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Equities research analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

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.