Alberta Investment Management Corp purchased a new position in shares of CubeSmart (NYSE:CUBE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 224,000 shares of the real estate investment trust's stock, valued at approximately $8,908,000. Alberta Investment Management Corp owned 0.10% of CubeSmart at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Cadence Bank purchased a new position in shares of CubeSmart during the 4th quarter valued at approximately $4,043,000. Legal & General Group Plc increased its stake in shares of CubeSmart by 16.3% in the fourth quarter. Legal & General Group Plc now owns 1,381,625 shares of the real estate investment trust's stock worth $49,808,000 after buying an additional 193,467 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of CubeSmart by 2,806.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 228,407 shares of the real estate investment trust's stock worth $8,234,000 after buying an additional 220,549 shares during the last quarter. Lasalle Investment Management Securities LLC raised its holdings in CubeSmart by 3.0% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,080,351 shares of the real estate investment trust's stock valued at $38,947,000 after acquiring an additional 31,187 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in CubeSmart in the fourth quarter valued at $1,036,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on CUBE. Truist Financial boosted their target price on shares of CubeSmart from $41.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Evercore set a $47.00 price target on shares of CubeSmart in a research report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of CubeSmart in a research note on Wednesday, July 15th. Wall Street Zen raised CubeSmart from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price objective on shares of CubeSmart in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.50.
Get Our Latest Research Report on CUBE
CubeSmart Trading Up 0.1%
NYSE CUBE opened at $41.54 on Monday. CubeSmart has a one year low of $35.09 and a one year high of $43.26. The company has a 50-day simple moving average of $41.13 and a 200-day simple moving average of $39.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $9.35 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 6.82 and a beta of 1.07.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The company had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business's revenue 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, equities analysts forecast that CubeSmart will post 2.57 earnings per share for the current year.
CubeSmart Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.1%. CubeSmart's payout ratio is 146.21%.
About CubeSmart
(
Free Report)
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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