New Mexico Educational Retirement Board Has $617,000 Stake in CubeSmart (CUBE)
New Mexico Educational Retirement Board continued to hold its position in CubeSmart (NYSE:CUBE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,005 shares of the real estate investment trust’s stock at the end of the second quarter. New Mexico Educational Retirement Board’s holdings in CubeSmart were worth $617,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Tdam USA Inc. boosted its stake in CubeSmart by 23.0% in the second quarter. Tdam USA Inc. now owns 62,821 shares of the real estate investment trust’s stock worth $1,510,000 after buying an additional 11,747 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in CubeSmart by 14.0% in the second quarter. Daiwa Securities Group Inc. now owns 16,300 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 2,000 shares in the last quarter. KRV Capital LP boosted its stake in CubeSmart by 38.9% in the second quarter. KRV Capital LP now owns 484,700 shares of the real estate investment trust’s stock worth $11,652,000 after buying an additional 135,737 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in CubeSmart by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 105,874 shares of the real estate investment trust’s stock worth $2,543,000 after buying an additional 541 shares in the last quarter. Finally, Presima Inc. boosted its stake in CubeSmart by 49.2% in the second quarter. Presima Inc. now owns 2,192,000 shares of the real estate investment trust’s stock worth $52,696,000 after buying an additional 723,200 shares in the last quarter.
CubeSmart (NYSE CUBE) opened at 24.18 on Thursday. The company has a market cap of $4.36 billion, a P/E ratio of 41.76 and a beta of 0.19. CubeSmart has a 12-month low of $22.83 and a 12-month high of $28.98. The firm has a 50-day moving average price of $24.06 and a 200-day moving average price of $25.33.
CubeSmart (NYSE:CUBE) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $138.60 million for the quarter, compared to the consensus estimate of $138.07 million. CubeSmart had a return on equity of 6.65% and a net margin of 20.36%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, analysts forecast that CubeSmart will post $0.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, September 29th. This represents a $1.08 annualized dividend and a yield of 4.47%. CubeSmart’s payout ratio is presently 186.21%.
ILLEGAL ACTIVITY NOTICE: “New Mexico Educational Retirement Board Has $617,000 Stake in CubeSmart (CUBE)” was posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://www.dailypolitical.com/2017/08/17/new-mexico-educational-retirement-board-has-617000-stake-in-cubesmart-cube.html.
A number of research firms have recently commented on CUBE. Zacks Investment Research raised CubeSmart from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Cantor Fitzgerald dropped their price objective on CubeSmart from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, May 22nd. Citigroup Inc. reaffirmed a “neutral” rating and set a $27.00 price objective (down from $29.00) on shares of CubeSmart in a research report on Thursday, May 11th. BidaskClub cut CubeSmart from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, Bank of America Corporation cut CubeSmart from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $27.75 to $25.00 in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. CubeSmart presently has an average rating of “Hold” and a consensus target price of $28.71.
CubeSmart operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. Its self-storage properties are designed to offer storage space for its residential and commercial customers.
Want to see what other hedge funds are holding CUBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CubeSmart (NYSE:CUBE).
Receive News & Ratings for CubeSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CubeSmart and related companies with MarketBeat.com's FREE daily email newsletter.