New York State Common Retirement Fund Acquires 22,200 Shares of CubeSmart $CUBE

New York State Common Retirement Fund lifted its holdings in CubeSmart (NYSE:CUBE) by 23.9% in the 3rd quarter, Holdings Channel reports. The firm owned 114,903 shares of the real estate investment trust’s stock after acquiring an additional 22,200 shares during the period. New York State Common Retirement Fund’s holdings in CubeSmart were worth $4,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its holdings in CubeSmart by 8.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,179 shares of the real estate investment trust’s stock worth $1,105,000 after buying an additional 2,009 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of CubeSmart by 5.4% during the 3rd quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock valued at $25,986,000 after acquiring an additional 32,697 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of CubeSmart by 10.4% in the third quarter. Resona Asset Management Co. Ltd. now owns 101,065 shares of the real estate investment trust’s stock worth $4,104,000 after acquiring an additional 9,536 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of CubeSmart by 1.3% during the third quarter. UniSuper Management Pty Ltd now owns 64,700 shares of the real estate investment trust’s stock valued at $2,631,000 after purchasing an additional 800 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of CubeSmart by 28.8% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 20,580 shares of the real estate investment trust’s stock valued at $837,000 after purchasing an additional 4,604 shares during the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CUBE. Wall Street Zen cut shares of CubeSmart from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. UBS Group lowered their price target on CubeSmart from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company cut their price objective on CubeSmart from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating on shares of CubeSmart in a research report on Monday, December 8th. Finally, Wolfe Research cut CubeSmart from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.13.

CubeSmart Trading Up 0.1%

NYSE:CUBE opened at $38.41 on Friday. CubeSmart has a one year low of $34.24 and a one year high of $44.13. The business has a fifty day moving average price of $37.05 and a 200-day moving average price of $38.79. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 8.44 and a beta of 1.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47.

CubeSmart Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. This is an increase from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, January 2nd. CubeSmart’s dividend payout ratio is 135.90%.

CubeSmart Company Profile

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.