New York State Teachers Retirement System Sells 42,797 Shares of CubeSmart $CUBE

Key Points

• New York State Teachers Retirement System cut its CubeSmart stake by 25.3% in the first quarter, selling 42,797 shares and ending with 126,308 shares worth about $4.63 million.
• CubeSmart reported quarterly EPS of $0.36, beating analyst estimates, and revenue of $281.93 million, also above expectations. The company raised its FY 2026 guidance to 2.520-2.600 EPS.
• The REIT declared a quarterly dividend of $0.53 per share, implying an annualized yield of 5.3%, while analysts currently rate the stock a consensus Hold with an average target price of $42.91.

New York State Teachers Retirement System lessened its holdings in CubeSmart (NYSE:CUBE - Free Report) by 25.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,308 shares of the real estate investment trust's stock after selling 42,797 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of CubeSmart worth $4,629,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Wiser Advisor Group LLC purchased a new position in shares of CubeSmart in the 3rd quarter worth $28,000. Geneos Wealth Management Inc. grew its position in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 568 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in CubeSmart in the fourth quarter worth about $43,000. SJS Investment Consulting Inc. bought a new stake in CubeSmart during the first quarter worth approximately $42,000. Finally, Steward Partners Investment Advisory LLC raised its position in CubeSmart by 101.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,208 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 97.61% of the company's stock.

CubeSmart Trading Down 2.2%

CUBE opened at $39.97 on Thursday. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 7.06 and a beta of 1.08. The stock's 50 day moving average price is $40.29 and its 200-day moving average price is $38.93. CubeSmart has a one year low of $35.09 and a one year high of $42.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.04 and a current ratio of 0.04.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. CubeSmart had a return on equity of 11.84% and a net margin of 28.93%.The firm had revenue of $281.93 million during the quarter, compared to analyst estimates of $275.25 million. During the same period last year, the company earned $0.64 EPS. CubeSmart's quarterly revenue was up 3.3% compared to the same quarter last year. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, equities analysts forecast that CubeSmart will post 2.58 EPS for the current year.

CubeSmart Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. CubeSmart's dividend payout ratio (DPR) is presently 149.30%.

Analysts Set New Price Targets

CUBE has been the subject of a number of recent research reports. BNP Paribas Exane upgraded CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 target price for the company in a report on Wednesday, March 18th. Truist Financial lifted their price objective on shares of CubeSmart from $41.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Mizuho boosted their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. UBS Group increased their target price on shares of CubeSmart from $37.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, May 18th. Finally, Scotiabank upgraded shares of CubeSmart to a "hold" rating in a report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $42.91.

About CubeSmart

CubeSmart NYSE: CUBE is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company's portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart's facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.

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