Bank of New York Mellon Corp Buys Shares of 1,865,695 CubeSmart $CUBE

Bank of New York Mellon Corp purchased a new stake in CubeSmart (NYSE:CUBE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,865,695 shares of the real estate investment trust's stock, valued at approximately $74,199,000. Bank of New York Mellon Corp owned about 0.83% of CubeSmart as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wiser Advisor Group LLC acquired a new position in CubeSmart in the third quarter valued at about $28,000. Essential Partners LLC boosted its stake in CubeSmart by 594.7% during the first quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust's stock worth $33,000 after buying an additional 779 shares during the period. Geneos Wealth Management Inc. increased its position 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 during the last quarter. SJS Investment Consulting Inc. acquired a new stake in shares of CubeSmart during the first quarter valued at about $42,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of CubeSmart in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.61% of the company's stock.

CubeSmart Price Performance

Shares of CUBE opened at $40.62 on Wednesday. The company has a market cap of $9.15 billion, a P/E ratio of 28.02, a PEG ratio of 6.73 and a beta of 1.07. CubeSmart has a fifty-two week low of $35.09 and a fifty-two week 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. The firm's 50 day moving average price is $41.09 and its 200 day moving average price is $39.91.

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 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 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 business posted $0.65 earnings per share. The firm'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, research analysts forecast that CubeSmart will post 2.57 earnings per share for the current fiscal year.

CubeSmart Announces Dividend

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 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%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $47.00 price objective on shares of CubeSmart in a report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of CubeSmart in a report on Wednesday, July 15th. Raymond James Financial initiated coverage on CubeSmart in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $44.00 target price on the stock. Barclays upgraded CubeSmart from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $46.00 in a research note on Friday, July 10th. Finally, UBS Group raised their price target on CubeSmart from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average 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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