Corient Private Wealth LLC Sells 2,422 Shares of CubeSmart (NYSE:CUBE)

Corient Private Wealth LLC lessened its holdings in shares of CubeSmart (NYSE:CUBE) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,878 shares of the real estate investment trust’s stock after selling 2,422 shares during the quarter. Corient Private Wealth LLC owned approximately 0.08% of CubeSmart worth $7,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its stake in CubeSmart by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,861 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 601 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of CubeSmart by 0.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 179,393 shares of the real estate investment trust’s stock worth $7,687,000 after buying an additional 710 shares in the last quarter. Vestcor Inc grew its holdings in shares of CubeSmart by 99.5% during the fourth quarter. Vestcor Inc now owns 87,005 shares of the real estate investment trust’s stock valued at $3,728,000 after buying an additional 43,383 shares during the last quarter. Swiss National Bank increased its position in shares of CubeSmart by 0.8% during the fourth quarter. Swiss National Bank now owns 442,900 shares of the real estate investment trust’s stock valued at $18,978,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in CubeSmart by 7.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 28,920 shares of the real estate investment trust’s stock worth $1,239,000 after acquiring an additional 1,949 shares during the last quarter. Institutional investors own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of CUBE stock opened at $42.04 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $9.58 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. The firm’s 50-day moving average is $41.78 and its two-hundred day moving average is $46.25. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data 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. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The firm had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. 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. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. CubeSmart’s dividend payout ratio is presently 120.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CUBE shares. 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. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Royal Bank of Canada reduced their price target on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Barclays dropped their price objective on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their target price on shares of CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.00.

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.