Bamco Inc. NY Invests $9.30 Million in CubeSmart $CUBE

Key Points

• Bamco Inc. NY acquired 233,813 CubeSmart shares worth approximately $9.3 million in the second quarter, representing about 0.10% of the self-storage REIT. Institutional investors collectively own 97.61% of CUBE.
• CubeSmart’s latest quarterly results missed expectations, with EPS of $0.39 versus the $0.64 consensus estimate, though revenue of $286.49 million exceeded forecasts and rose 1.5% year over year.
• CubeSmart declared a quarterly dividend of $0.53, equivalent to a $2.12 annualized payout and a 5.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $43.55, compared with shares trading near $40.00.

Bamco Inc. NY bought a new stake in CubeSmart (NYSE:CUBE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 233,813 shares of the real estate investment trust's stock, valued at approximately $9,299,000. Bamco Inc. NY owned about 0.10% of CubeSmart as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CUBE. Cetera Investment Advisers boosted its holdings in shares of CubeSmart by 1.6% during the 2nd quarter. Cetera Investment Advisers now owns 17,212 shares of the real estate investment trust's stock worth $731,000 after purchasing an additional 265 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position 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 in the last quarter. Fifth Third Bancorp lifted its position 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 in the last quarter. Rockefeller Capital Management L.P. boosted its stake in CubeSmart by 15.5% during the fourth 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 last quarter. Finally, Pacific Sun Financial Corp boosted its stake in CubeSmart by 6.6% during the third quarter. Pacific Sun Financial Corp now owns 5,022 shares of the real estate investment trust's stock worth $204,000 after buying an additional 310 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Down 1.1%

Shares of CUBE opened at $40.00 on Friday. The firm has a market cap of $9.01 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 6.66 and a beta of 1.07. CubeSmart has a 12-month low of $35.09 and a 12-month high of $43.26. The company's 50-day moving average price is $41.08 and its 200 day moving average price is $39.94. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34.

CubeSmart (NYSE:CUBE - Get Free Report) last posted 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 period in the previous year, the company earned $0.65 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. 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 forecast that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Thursday, October 1st. CubeSmart's dividend payout ratio is currently 146.21%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CUBE shares. Evercore set a $47.00 price target on shares of CubeSmart in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Mizuho lifted their target price on shares of CubeSmart from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Raymond James Financial began coverage on shares of CubeSmart in a report on Wednesday, July 15th. They issued an "outperform" rating and a $44.00 target price on the stock. Finally, KeyCorp reissued a "sector weight" rating on shares of CubeSmart in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, CubeSmart presently has a consensus rating of "Hold" and a consensus price target of $43.55.

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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