Bank of New York Mellon Corp Sells 45,197 Shares of CubeSmart $CUBE

Key Points

• Bank of New York Mellon trimmed its CubeSmart position by 2.3% in the first quarter, selling 45,197 shares but still holding 1.92 million shares valued at about $70.2 million.
• Institutional ownership remains very high at 97.61%, with several other hedge funds and investment firms also increasing or adjusting their stakes in the self-storage REIT.
• Analysts are split but generally cautious: CubeSmart has a Hold consensus rating with an average price target of $43.25, while the stock recently traded at $41.13 and offers a 5.2% dividend yield.

Bank of New York Mellon Corp lessened its stake in CubeSmart (NYSE:CUBE - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,916,477 shares of the real estate investment trust's stock after selling 45,197 shares during the period. Bank of New York Mellon Corp owned 0.84% of CubeSmart worth $70,239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of CubeSmart in the 1st quarter valued at $277,000. State of Michigan Retirement System grew its holdings in shares of CubeSmart by 1.9% during the first quarter. State of Michigan Retirement System now owns 54,900 shares of the real estate investment trust's stock worth $2,012,000 after buying an additional 1,000 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CubeSmart by 3.8% in the first quarter. Principal Financial Group Inc. now owns 508,977 shares of the real estate investment trust's stock valued at $18,654,000 after purchasing an additional 18,475 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in CubeSmart by 174.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 18,415 shares of the real estate investment trust's stock valued at $720,000 after buying an additional 11,704 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in CubeSmart by 21.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 160,057 shares of the real estate investment trust's stock worth $5,866,000 after acquiring an additional 28,735 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho increased their price target 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. Evercore set a $47.00 target price on shares of CubeSmart in a research note on Monday, July 6th. Wall Street Zen upgraded CubeSmart from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Truist Financial boosted their price target on CubeSmart from $41.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Finally, Raymond James Financial initiated coverage on CubeSmart in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $44.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CubeSmart currently has an average rating of "Hold" and a consensus price target of $43.25.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $41.13 on Thursday. The firm has a 50 day moving average of $40.44 and a 200-day moving average of $39.28. The stock has a market capitalization of $9.31 billion, a PE ratio of 28.96, a PEG ratio of 7.08 and a beta of 1.08. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 1.29. CubeSmart has a 12 month low of $35.09 and a 12 month high of $42.90.

• CubeSmart NYSE: CUBE Stock is a Smart Pullback Play

CubeSmart (NYSE:CUBE - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The business had revenue of $281.93 million for the quarter, compared to analysts' expectations of $275.25 million. During the same period last year, the firm posted $0.64 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, equities research analysts predict that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.12 annualized dividend and a yield of 5.2%. CubeSmart's payout ratio is presently 149.30%.

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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