Oregon Public Employees Retirement Fund Purchases 464 Shares of CubeSmart (NYSE:CUBE)

Oregon Public Employees Retirement Fund boosted its holdings in CubeSmart (NYSE:CUBE) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,992 shares of the real estate investment trust’s stock after acquiring an additional 464 shares during the period. Oregon Public Employees Retirement Fund’s holdings in CubeSmart were worth $1,971,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its position in CubeSmart by 9,614.3% in the 4th quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 673 shares during the last quarter. Blue Trust Inc. raised its position in CubeSmart by 74.9% in the 4th 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. Peterson Financial Group Inc. purchased a new position in CubeSmart in the 3rd quarter worth about $33,000. UMB Bank n.a. raised its position in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 351 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of CubeSmart during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

CubeSmart Trading Down 2.9 %

CubeSmart stock opened at $41.28 on Friday. The firm has a 50 day moving average of $41.85 and a 200 day moving average of $47.04. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 11.58 and a beta of 0.87. CubeSmart has a 12-month low of $39.80 and a 12-month high of $55.14. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million during the quarter, compared to analyst estimates of $267.54 million. As a group, research analysts predict that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 annualized dividend and a yield of 5.04%. CubeSmart’s payout ratio is 117.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of CubeSmart from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Truist Financial raised shares of CubeSmart from a “hold” rating to a “buy” rating and reduced their price target for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CubeSmart from a “sell” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CubeSmart presently has a consensus rating of “Hold” and an average price target of $49.18.

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.