Winmill & CO. Inc. acquired a new position in CubeSmart (NYSE:CUBE – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the real estate investment trust’s stock, valued at approximately $557,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in CubeSmart during the 2nd quarter worth $1,349,164,000. Norges Bank acquired a new position in shares of CubeSmart during the fourth quarter worth about $395,968,000. Bank of New York Mellon Corp purchased a new stake in shares of CubeSmart in the second quarter worth about $74,199,000. Millennium Management LLC grew its stake in shares of CubeSmart by 201.5% in the fourth quarter. Millennium Management LLC now owns 2,739,600 shares of the real estate investment trust’s stock valued at $98,763,000 after buying an additional 1,830,993 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of CubeSmart during the 2nd quarter valued at about $68,552,000. Institutional investors and hedge funds own 97.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CUBE. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a report on Tuesday, August 4th. Barclays upgraded shares of CubeSmart from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $45.00 to $46.00 in a research note on Friday, July 10th. Truist Financial lifted their price target 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. Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of CubeSmart in a research report on Tuesday, August 4th. Finally, Raymond James Financial started coverage on CubeSmart in a research note on Wednesday, July 15th. They set an “outperform” rating and a $44.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.50.
CubeSmart Price Performance
Shares of NYSE:CUBE opened at $40.95 on Monday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34. The firm has a 50-day simple moving average of $41.11 and a 200 day simple moving average of $39.88. The company has a market cap of $9.22 billion, a PE ratio of 28.24, a P/E/G ratio of 6.73 and a beta of 1.07. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week high of $43.26.
CubeSmart (NYSE:CUBE – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.The company had revenue of $286.49 million during the quarter, compared to the consensus estimate of $281.12 million. During the same period last year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. CubeSmart has set its Q3 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.600 EPS. On average, sell-side analysts anticipate that CubeSmart will post 2.57 EPS for the current year.
CubeSmart Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.53 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. CubeSmart’s dividend payout ratio (DPR) is presently 146.21%.
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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