California Public Employees Retirement System Reduces Stake in CubeSmart $CUBE

California Public Employees Retirement System trimmed its position in CubeSmart (NYSE:CUBE) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,814 shares of the real estate investment trust’s stock after selling 22,850 shares during the quarter. California Public Employees Retirement System’s holdings in CubeSmart were worth $14,397,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in CubeSmart in the fourth quarter valued at approximately $395,968,000. Geode Capital Management LLC lifted its stake in shares of CubeSmart by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,714,128 shares of the real estate investment trust’s stock valued at $169,975,000 after purchasing an additional 52,207 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of CubeSmart by 36.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 4,283,952 shares of the real estate investment trust’s stock worth $174,185,000 after purchasing an additional 1,143,464 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of CubeSmart by 3.1% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,469,724 shares of the real estate investment trust’s stock worth $125,084,000 after purchasing an additional 105,105 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CubeSmart by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,412,567 shares of the real estate investment trust’s stock worth $123,023,000 after purchasing an additional 171,539 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of CubeSmart from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Raymond James Financial initiated coverage on CubeSmart in a research note on Wednesday, July 15th. They set an “outperform” rating and a $44.00 target price on the stock. Wall Street Zen upgraded CubeSmart from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays raised CubeSmart from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $45.00 to $46.00 in a research report on Friday, July 10th. Finally, Mizuho boosted their price target on shares of CubeSmart from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.42.

CubeSmart Trading Up 2.6%

NYSE CUBE opened at $42.09 on Friday. The firm’s fifty day moving average is $40.55 and its two-hundred day moving average is $39.34. CubeSmart has a one year low of $35.09 and a one year high of $42.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $9.53 billion, a PE ratio of 29.64, a P/E/G ratio of 7.09 and a beta of 1.08.

CubeSmart (NYSE:CUBE) last released 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. The firm had revenue of $281.93 million for the quarter, compared to analyst estimates of $275.25 million. CubeSmart had a return on equity of 11.84% and a net margin of 28.93%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. Analysts expect that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Wednesday, July 1st. CubeSmart’s dividend payout ratio (DPR) is currently 149.30%.

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.