Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $5.26 Million Holdings in CubeSmart (NYSE:CUBE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in CubeSmart (NYSE:CUBE - Free Report) by 38.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,725 shares of the real estate investment trust's stock after acquiring an additional 33,948 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.05% of CubeSmart worth $5,259,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CUBE. Magnetar Financial LLC increased its position in CubeSmart by 2.3% in the 4th quarter. Magnetar Financial LLC now owns 14,153 shares of the real estate investment trust's stock worth $606,000 after buying an additional 320 shares during the period. Teacher Retirement System of Texas increased its position in CubeSmart by 39.6% during the fourth quarter. Teacher Retirement System of Texas now owns 72,712 shares of the real estate investment trust's stock worth $3,116,000 after acquiring an additional 20,616 shares during the period. Lindenwold Advisors INC boosted its holdings in 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 period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in CubeSmart in the 4th quarter worth $1,778,000. Finally, Intech Investment Management LLC acquired a new stake in CubeSmart in the 4th quarter worth $761,000. Institutional investors own 97.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank cut CubeSmart from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $52.00 to $46.00 in a research report on Wednesday, March 5th. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Royal Bank of Canada decreased their target price on shares of CubeSmart from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Jefferies Financial Group lowered shares of CubeSmart from a "buy" rating to a "hold" rating and dropped their price target for the stock from $57.00 to $46.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target on shares of CubeSmart from $50.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $48.00.

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CubeSmart Price Performance

CubeSmart stock traded down $0.63 on Tuesday, reaching $41.10. The company's stock had a trading volume of 692,458 shares, compared to its average volume of 1,339,640. The business's fifty day moving average price is $41.84 and its 200 day moving average price is $46.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 11.58 and a beta of 0.88. CubeSmart has a twelve month low of $39.80 and a twelve month high of $55.14.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The business had revenue of $231.41 million for the quarter, compared to the consensus estimate of $267.54 million. Equities analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.06%. The ex-dividend date is Tuesday, April 1st. CubeSmart's dividend payout ratio is 120.93%.

CubeSmart Company 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.