Parcion Private Wealth LLC Has $4.61 Million Position in CubeSmart (NYSE:CUBE)

Parcion Private Wealth LLC increased its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 104.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,451 shares of the real estate investment trust's stock after buying an additional 50,828 shares during the period. Parcion Private Wealth LLC's holdings in CubeSmart were worth $4,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of CubeSmart in the second quarter valued at about $37,000. Sunbelt Securities Inc. acquired a new position in shares of CubeSmart in the first quarter valued at approximately $46,000. Covestor Ltd raised its position in shares of CubeSmart by 65.8% in the third quarter. Covestor Ltd now owns 1,444 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 573 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of CubeSmart by 59.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,591 shares of the real estate investment trust's stock valued at $82,000 after buying an additional 591 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of CubeSmart by 41.7% in the second quarter. Lazard Asset Management LLC now owns 2,014 shares of the real estate investment trust's stock valued at $89,000 after buying an additional 593 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

CUBE has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, March 4th. Truist Financial boosted their price objective on shares of CubeSmart from $43.00 to $46.00 and gave the company a "hold" rating in a research report on Thursday, December 28th. BMO Capital Markets raised shares of CubeSmart from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $46.00 to $49.00 in a research report on Friday, December 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of CubeSmart in a research report on Tuesday, January 30th. They set a "sell" rating and a $40.00 price target for the company. Finally, Jefferies Financial Group raised shares of CubeSmart from a "hold" rating to a "buy" rating and upped their price target for the stock from $38.00 to $53.00 in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $46.00.

CubeSmart Stock Up 0.8 %

Shares of CUBE stock traded up $0.34 on Thursday, hitting $44.74. The stock had a trading volume of 1,185,550 shares, compared to its average volume of 1,528,872. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 24.72 and a beta of 0.69. The stock's 50 day moving average is $43.93 and its 200-day moving average is $41.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a 52-week low of $33.17 and a 52-week high of $48.93.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.04 dividend on an annualized basis and a yield of 4.56%. CubeSmart's dividend payout ratio (DPR) is 112.71%.

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.