Bank of America Corp DE Has $48.44 Million Stock Position in CubeSmart $CUBE

Key Points

• Bank of America increased its CubeSmart stake by 12.2% in the first quarter, owning 1.32 million shares valued at approximately $48.44 million. Institutional investors collectively hold 97.61% of CubeSmart’s outstanding stock.
• Analyst sentiment remains mixed, with six Buy ratings and nine Hold ratings producing a consensus Hold rating and an average price target of $43.50.
• CubeSmart reported quarterly revenue of $286.49 million, ahead of estimates, but earnings per share of $0.39 missed expectations. The company declared a quarterly dividend of $0.53 per share, equivalent to a 5.1% annualized yield.

Bank of America Corp DE grew its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,321,786 shares of the real estate investment trust's stock after purchasing an additional 143,988 shares during the quarter. Bank of America Corp DE owned about 0.58% of CubeSmart worth $48,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC bought a new stake in CubeSmart during the third quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its position in shares of CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 568 shares during the period. SJS Investment Consulting Inc. bought a new position in shares of CubeSmart in the first quarter valued at approximately $42,000. Los Angeles Capital Management LLC acquired a new stake in shares of CubeSmart in the fourth quarter worth $43,000. Finally, Global Retirement Partners LLC lifted its stake in shares of CubeSmart by 95.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,213 shares of the real estate investment trust's stock worth $44,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho raised their target price on shares of CubeSmart from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. KeyCorp reissued a "sector weight" rating on shares of CubeSmart in a research report on Tuesday, August 4th. Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Truist Financial raised their price target on CubeSmart from $41.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Finally, Barclays upgraded CubeSmart from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $46.00 in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and an average target price of $43.50.

CubeSmart Price Performance

Shares of CubeSmart stock opened at $41.29 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $9.30 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 6.72 and a beta of 1.07. The firm has a fifty day moving average price of $41.07 and a two-hundred day moving average price of $39.69. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week high of $43.26.

• CubeSmart NYSE: CUBE Stock is a Smart Pullback Play

CubeSmart (NYSE:CUBE - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The firm had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. During the same period last year, the company earned $0.65 EPS. The company'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. Analysts expect that CubeSmart will post 2.57 EPS for the current 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 issued a dividend of $0.53 per share. 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.

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