CubeSmart $CUBE Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in CubeSmart (NYSE:CUBE) by 1.7%, owning approximately 406,274 shares worth $17.27 million.
• CubeSmart reported a quarterly earnings per share of $0.65, surpassing analyst expectations, with a revenue of $282.30 million for the quarter, which is a 6.0% increase from the previous year.
• The company announced a quarterly dividend of $0.52 per share, with a dividend yield of 5.2%, scheduled to be paid on October 15th to stockholders of record as of October 1st.

Public Employees Retirement System of Ohio boosted its stake in shares of CubeSmart (NYSE:CUBE - Free Report) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,274 shares of the real estate investment trust's stock after purchasing an additional 6,857 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.18% of CubeSmart worth $17,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CUBE. T. Rowe Price Investment Management Inc. boosted its position in CubeSmart by 28.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust's stock worth $370,049,000 after acquiring an additional 1,937,055 shares during the period. Millennium Management LLC boosted its position in CubeSmart by 129.6% during the 1st quarter. Millennium Management LLC now owns 2,261,419 shares of the real estate investment trust's stock worth $96,585,000 after acquiring an additional 1,276,340 shares during the period. Nuveen LLC acquired a new position in CubeSmart during the 1st quarter worth $53,980,000. JPMorgan Chase & Co. boosted its position in CubeSmart by 29.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust's stock worth $237,519,000 after acquiring an additional 1,261,746 shares during the period. Finally, Long Pond Capital LP acquired a new position in CubeSmart during the 1st quarter worth $47,358,000. Institutional investors and hedge funds own 97.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CUBE shares. Evercore ISI upgraded CubeSmart from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $47.00 to $48.00 in a research report on Monday, September 15th. Barclays cut their price objective on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. BNP Paribas Exane started coverage on CubeSmart in a report on Tuesday, June 24th. They issued a "neutral" rating and a $46.00 price objective for the company. Royal Bank Of Canada cut their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, August 4th. Finally, UBS Group cut their price objective on CubeSmart from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.00.

CubeSmart Stock Down 0.2%

NYSE:CUBE opened at $39.68 on Friday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 8.85 and a beta of 0.94. CubeSmart has a 1-year low of $34.24 and a 1-year high of $53.92. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The business's fifty day moving average price is $40.41 and its 200 day moving average price is $41.14.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The firm had revenue of $282.30 million for the quarter, compared to the consensus estimate of $275.71 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business's quarterly revenue was up 6.0% compared to the same quarter last year. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, sell-side analysts forecast that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, October 1st. CubeSmart's dividend payout ratio is 126.83%.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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