CubeSmart (NYSE:CUBE) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its stake in shares of CubeSmart (NYSE:CUBE) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,164 shares of the real estate investment trust’s stock after selling 1,442 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in CubeSmart were worth $2,700,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CUBE. Boston Trust Walden Corp boosted its stake in shares of CubeSmart by 2.7% during the second quarter. Boston Trust Walden Corp now owns 884,374 shares of the real estate investment trust’s stock valued at $39,947,000 after acquiring an additional 23,179 shares during the last quarter. BNP Paribas Financial Markets boosted 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. grew its holdings in shares of CubeSmart by 127.1% during the third quarter. Harbor Capital Advisors Inc. now owns 33,013 shares of the real estate investment trust’s stock worth $1,777,000 after buying an additional 18,475 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of CubeSmart by 46.6% in the third quarter. Victory Capital Management Inc. now owns 546,274 shares of the real estate investment trust’s stock valued at $29,406,000 after buying an additional 173,683 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of CubeSmart in the third quarter valued at approximately $1,452,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CUBE shares. Barclays lowered their target price on shares of CubeSmart from $55.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. UBS Group downgraded CubeSmart from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $54.00 in a research report on Friday, September 13th. Royal Bank of Canada reduced their target price on CubeSmart from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Scotiabank lowered their price target on CubeSmart from $53.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Finally, Evercore ISI upped their price target on shares of CubeSmart from $52.00 to $53.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.36.

CubeSmart Stock Down 1.4 %

Shares of CubeSmart stock opened at $46.90 on Wednesday. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 13.34 and a beta of 0.84. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average price of $49.00 and a 200 day moving average price of $48.35.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.24). The company had revenue of $270.90 million during the quarter, compared to analysts’ expectations of $267.49 million. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. CubeSmart’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Equities research analysts forecast 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.