Orion Portfolio Solutions LLC Acquires 370 Shares of CubeSmart (NYSE:CUBE)

Orion Portfolio Solutions LLC boosted its holdings in CubeSmart (NYSE:CUBE) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 50,534 shares of the real estate investment trust’s stock after purchasing an additional 370 shares during the period. Orion Portfolio Solutions LLC’s holdings in CubeSmart were worth $2,165,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of CubeSmart during the 4th quarter worth approximately $21,278,000. Oak Thistle LLC grew its holdings in CubeSmart by 232.9% in the fourth quarter. Oak Thistle LLC now owns 32,280 shares of the real estate investment trust’s stock worth $1,383,000 after purchasing an additional 22,582 shares during the period. Entropy Technologies LP bought a new stake in CubeSmart in the fourth quarter valued at $445,000. BNP Paribas Financial Markets raised its holdings in shares of CubeSmart by 32.9% during the third quarter. BNP Paribas Financial Markets now owns 158,472 shares of the real estate investment trust’s stock valued at $8,531,000 after purchasing an additional 39,270 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 36,919 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CUBE shares. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $52.00 to $46.00 in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. 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. Truist Financial upgraded shares of CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $50.00 to $47.00 in a report on Friday, January 17th. Finally, Royal Bank of Canada cut their price target on CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

CubeSmart Stock Down 1.6 %

CubeSmart stock opened at $42.02 on Wednesday. The firm has a 50 day moving average price of $41.92 and a 200-day moving average price of $45.56. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The company has a market capitalization of $9.57 billion, a P/E ratio of 23.74, a P/E/G ratio of 11.58 and a beta of 0.88.

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 analysts’ consensus estimates of $0.45 by $0.23. The business had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. As a group, equities analysts predict that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.95%. CubeSmart’s dividend payout ratio is presently 120.93%.

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.