33,924,159 Shares in CubeSmart $CUBE Purchased by BlackRock Inc.

BlackRock Inc. bought a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,924,159 shares of the real estate investment trust's stock, valued at approximately $1,349,164,000. BlackRock Inc. owned 15.07% of CubeSmart at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in shares of CubeSmart by 1.6% in the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust's stock valued at $731,000 after purchasing an additional 265 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in CubeSmart by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 6,964 shares of the real estate investment trust's stock worth $255,000 after buying an additional 269 shares during the last quarter. Fifth Third Bancorp boosted its holdings in CubeSmart by 12.5% during the first quarter. Fifth Third Bancorp now owns 2,608 shares of the real estate investment trust's stock worth $96,000 after buying an additional 289 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of CubeSmart by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,204 shares of the real estate investment trust's stock worth $79,000 after buying an additional 295 shares during the period. Finally, Pacific Sun Financial Corp increased its stake in shares of CubeSmart by 6.6% in the 3rd quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust's stock valued at $204,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 97.61% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wall Street Zen raised CubeSmart from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Truist Financial raised their price target on CubeSmart from $41.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. KeyCorp reiterated a "sector weight" rating on shares of CubeSmart in a research report on Tuesday, August 4th. UBS Group increased their target price on CubeSmart from $41.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. Finally, Evercore set a $47.00 price target on shares of CubeSmart in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $43.50.

CubeSmart Stock Down 0.7%

CUBE stock opened at $41.19 on Friday. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 6.82 and a beta of 1.07. CubeSmart has a twelve month low of $35.09 and a twelve month high of $43.26. The business has a 50 day moving average price of $41.12 and a two-hundred day moving average price of $39.85. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34.

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.25). The company had revenue of $286.49 million for the quarter, compared to the consensus estimate of $281.12 million. CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. CubeSmart has set its Q3 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.600 EPS. Analysts anticipate that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart's dividend payout ratio (DPR) is presently 146.21%.

CubeSmart 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.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source