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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of CubeSmart (NYSE:CUBE) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,725 shares of the real estate investment trust’s stock after buying an additional 33,948 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of CubeSmart worth $5,259,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Magnetar Financial LLC boosted its position in CubeSmart by 2.3% during the fourth 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 boosted 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 valued at $3,116,000 after purchasing an additional 20,616 shares during the last quarter. Lindenwold Advisors INC boosted its position in CubeSmart by 84.9% during the fourth 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 acquired a new position in CubeSmart during the fourth quarter valued at approximately $1,778,000. Finally, Intech Investment Management LLC acquired a new position in CubeSmart during the fourth quarter valued at approximately $761,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Performance

NYSE:CUBE opened at $41.62 on Friday. The stock has a market cap of $9.49 billion, a P/E ratio of 23.52, a PEG ratio of 11.58 and a beta of 0.88. The stock has a 50 day simple moving average of $41.81 and a 200 day simple moving average of $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 has a 1-year low of $39.80 and a 1-year high of $55.14.

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

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 5.00%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analysts Set New Price Targets

Several brokerages recently commented on CUBE. KeyCorp raised CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut their price objective on CubeSmart from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. 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 research report on Friday, January 10th. Truist Financial raised CubeSmart from a “hold” rating to a “buy” rating and cut their price objective for the company from $50.00 to $47.00 in a research report on Friday, January 17th. Finally, Barclays cut their price objective on CubeSmart from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.00.

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.