CubeSmart (NYSE:CUBE) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in CubeSmart (NYSE:CUBE) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,904 shares of the real estate investment trust’s stock after selling 30,127 shares during the quarter. Pacer Advisors Inc. owned 0.08% of CubeSmart worth $8,009,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC boosted its stake in shares of CubeSmart by 232.9% in the 4th quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock valued at $1,383,000 after buying an additional 22,582 shares during the period. BNP Paribas Financial Markets lifted its stake in CubeSmart by 32.9% in the third quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock worth $8,531,000 after acquiring an additional 39,270 shares during the last quarter. Franklin Resources Inc. grew its holdings in CubeSmart by 13.1% during the 3rd quarter. Franklin Resources Inc. now owns 319,316 shares of the real estate investment trust’s stock worth $15,950,000 after acquiring an additional 36,919 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of CubeSmart in the 3rd quarter valued at approximately $628,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of CubeSmart by 127.1% in 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. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Stock Performance

NYSE CUBE opened at $41.54 on Thursday. The business’s 50-day moving average price is $44.21 and its 200 day moving average price 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 firm has a market cap of $9.39 billion, a P/E ratio of 23.47, a P/E/G ratio of 11.20 and a beta of 0.87. CubeSmart has a 52-week low of $39.80 and a 52-week high of $55.14.

CubeSmart (NYSE:CUBE) 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). CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $270.90 million during the quarter, compared to analyst estimates of $267.49 million. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 5.01%. This is an increase from CubeSmart’s previous quarterly dividend of $0.51. CubeSmart’s dividend payout ratio is presently 117.51%.

Analysts Set New Price Targets

CUBE has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Scotiabank cut their target price on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Friday, January 10th. Jefferies Financial Group cut shares of CubeSmart from a “buy” rating to a “hold” rating and cut their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their target price for the company from $50.00 to $47.00 in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.73.

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.