7,254,520 Shares in CubeSmart $CUBE Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board purchased 7.25 million CubeSmart shares worth approximately $288.5 million, giving it a 3.22% stake. Institutional investors collectively own 97.61% of the REIT.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $43.55; CubeSmart recently traded at $40.62.
• CubeSmart reported quarterly revenue of $286.49 million, above estimates, but EPS of $0.39 missed expectations. The company declared a quarterly dividend of $0.53, representing a 5.2% annualized yield.

Canada Pension Plan Investment Board purchased a new stake in shares of CubeSmart (NYSE:CUBE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,254,520 shares of the real estate investment trust's stock, valued at approximately $288,512,000. Canada Pension Plan Investment Board owned 3.22% of CubeSmart at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wiser Advisor Group LLC bought a new stake in shares of CubeSmart in the 3rd quarter worth approximately $28,000. Essential Partners LLC increased its stake in shares of CubeSmart by 594.7% during the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 779 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of CubeSmart by 174.8% during the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 568 shares in the last quarter. SJS Investment Consulting Inc. bought a new position in shares of CubeSmart during the first quarter valued at approximately $42,000. Finally, Los Angeles Capital Management LLC purchased a new stake in CubeSmart in the fourth quarter worth $43,000. Institutional investors own 97.61% of the company's stock.

Wall Street Analyst Weigh In

CUBE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of CubeSmart from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of CubeSmart in a research report on Tuesday, August 4th. KeyCorp reaffirmed a "sector weight" rating on shares of CubeSmart in a research note on Tuesday, August 4th. Mizuho boosted their price target on shares of CubeSmart from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Finally, Raymond James Financial began coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $44.00 price target for the company. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $43.55.

CubeSmart Trading Down 0.7%

NYSE CUBE opened at $40.62 on Wednesday. The firm has a market capitalization of $9.15 billion, a PE ratio of 28.02, a P/E/G ratio of 6.73 and a beta of 1.07. The stock's 50 day moving average is $41.09 and its 200 day moving average is $39.91. CubeSmart has a twelve month low of $35.09 and a twelve month high of $43.26. 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 posted 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 firm had revenue of $286.49 million during 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%.CubeSmart's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $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. Research analysts forecast that CubeSmart will post 2.57 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. The ex-dividend date 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.

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