Legal & General Group Plc Increases Holdings in CubeSmart $CUBE

Key Points

• Legal & General Group Plc boosted its CubeSmart stake by 16.3% in the fourth quarter, buying 193,467 additional shares and bringing its position to 1,381,625 shares worth about $49.8 million.
• CubeSmart reported better-than-expected quarterly results, posting EPS of $0.36 versus $0.34 expected and revenue of $281.93 million versus $275.25 million forecast. The company also raised guidance, projecting FY 2026 EPS of 2.52 to 2.60.
• The REIT declared a quarterly dividend of $0.53 per share, payable July 15, implying an annualized yield of about 5.3%. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and an average price target of $43.33.

Legal & General Group Plc increased its holdings in shares of CubeSmart (NYSE:CUBE - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,381,625 shares of the real estate investment trust's stock after purchasing an additional 193,467 shares during the period. Legal & General Group Plc owned 0.61% of CubeSmart worth $49,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CUBE. Wiser Advisor Group LLC purchased a new stake in CubeSmart during the 3rd quarter worth $28,000. Geneos Wealth Management Inc. boosted its position in CubeSmart by 174.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 568 shares during the period. Huntington National Bank boosted its position in CubeSmart by 43.3% during the 3rd quarter. Huntington National Bank now owns 977 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 295 shares during the period. Global Retirement Partners LLC boosted its position in CubeSmart by 95.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,213 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 591 shares during the period. Finally, Avalon Trust Co purchased a new stake in CubeSmart during the 3rd quarter worth $51,000. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

Shares of CUBE stock opened at $40.01 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.04 and a current ratio of 0.04. CubeSmart has a one year low of $35.09 and a one year high of $44.13. The company's 50-day simple moving average is $38.85 and its 200-day simple moving average is $38.11. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 7.02 and a beta of 1.11.

CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.64 earnings per share. The company'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. Equities analysts anticipate that CubeSmart will post 2.57 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, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. CubeSmart's dividend payout ratio (DPR) is presently 149.30%.

Insider Activity at CubeSmart

In other news, insider Jeffrey P. Foster sold 23,148 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the transaction, the insider owned 205,057 shares of the company's stock, valued at approximately $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CUBE shares. UBS Group upped their price objective on shares of CubeSmart from $37.00 to $41.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Mizuho upped their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Wednesday. BNP Paribas Exane raised shares of CubeSmart from a "neutral" rating to an "outperform" rating and set a $43.00 price objective for the company in a research report on Wednesday, March 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $46.00 price objective on shares of CubeSmart in a research report on Monday, May 4th. Finally, Barclays upped their price objective on shares of CubeSmart from $43.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, CubeSmart has a consensus rating of "Hold" and an average target price of $43.33.

CubeSmart Company 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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