Teacher Retirement System of Texas Has $3.12 Million Stake in CubeSmart (NYSE:CUBE)

Teacher Retirement System of Texas boosted its position in shares of CubeSmart (NYSE:CUBE) by 39.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,712 shares of the real estate investment trust’s stock after acquiring an additional 20,616 shares during the quarter. Teacher Retirement System of Texas’ holdings in CubeSmart were worth $3,116,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 673 shares during the period. Blue Trust Inc. lifted its stake in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 289 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 389 shares during the period. SRS Capital Advisors Inc. grew its stake in CubeSmart by 310.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 559 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in CubeSmart by 59.4% in the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 351 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Trading Down 1.5 %

Shares of CubeSmart stock opened at $41.11 on Wednesday. The firm’s 50 day moving average is $41.85 and its 200 day moving average is $45.96. The firm has a market capitalization of $9.37 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 11.58 and a beta of 0.88. CubeSmart has a 1 year low of $39.80 and a 1 year high of $55.14. 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 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 company had revenue of $231.41 million during the quarter, compared to the consensus estimate of $267.54 million. Equities research analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.52 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.06%. CubeSmart’s dividend payout ratio (DPR) is presently 120.93%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CUBE. Jefferies Financial Group cut CubeSmart from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. 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. Truist Financial upgraded CubeSmart from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $50.00 to $47.00 in a research report on Friday, January 17th. Royal Bank of Canada reduced their target price on shares of CubeSmart from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Barclays decreased their price target on shares of CubeSmart from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.00.

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.