Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 33,948 Shares of CubeSmart (NYSE:CUBE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in CubeSmart (NYSE:CUBE) by 38.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 122,725 shares of the real estate investment trust’s stock after purchasing an additional 33,948 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CubeSmart were worth $5,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Magnetar Financial LLC increased its stake in shares of CubeSmart by 2.3% in the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 320 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of CubeSmart by 39.6% in the 4th quarter. Teacher Retirement System of Texas now owns 72,712 shares of the real estate investment trust’s stock valued at $3,116,000 after purchasing an additional 20,616 shares during the last quarter. Lindenwold Advisors INC increased its stake in shares of CubeSmart by 84.9% in the 4th quarter. Lindenwold Advisors INC now owns 10,318 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 4,738 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of CubeSmart in the 4th quarter valued at $1,778,000. Finally, Intech Investment Management LLC bought a new position in shares of CubeSmart in the 4th quarter valued at $761,000. Institutional investors own 97.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CUBE. Barclays decreased their price target on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Scotiabank downgraded CubeSmart from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Jefferies Financial Group downgraded CubeSmart from a “buy” rating to a “hold” rating and cut their price objective for the company from $57.00 to $46.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft raised CubeSmart from a “sell” rating to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a report on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CubeSmart has a consensus rating of “Hold” and a consensus price target of $48.00.

CubeSmart Stock Down 1.1 %

Shares of CUBE opened at $41.62 on Friday. The company has a market capitalization of $9.49 billion, a PE ratio of 23.52, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a 12 month low of $39.80 and a 12 month high of $55.14. The stock’s 50-day moving average price is $41.81 and its two-hundred day moving average price is $46.14. 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 announced its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.23. The company had revenue of $231.41 million for 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%. On average, analysts anticipate that CubeSmart will post 2.64 EPS for the current year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Tuesday, April 1st. CubeSmart’s dividend payout ratio is 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.