Public Employees Retirement System of Ohio Invests $13.17 Million in CubeSmart $CUBE

Key Points

• Public Employees Retirement System of Ohio acquired 331,257 CubeSmart shares worth approximately $13.17 million, giving it a 0.15% stake. Institutional investors and hedge funds collectively own 97.61% of the REIT.
• Analyst sentiment is mixed, with six Buy ratings and eight Holds producing a consensus Hold rating and an average price target of $43.55.
• CubeSmart reported quarterly revenue of $286.49 million, above estimates, but earnings per share missed expectations. The company announced a $0.53 quarterly dividend, equivalent to a 5.3% annualized yield.

Public Employees Retirement System of Ohio bought a new stake in CubeSmart (NYSE:CUBE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 331,257 shares of the real estate investment trust's stock, valued at approximately $13,174,000. Public Employees Retirement System of Ohio owned approximately 0.15% of CubeSmart as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBE. Wiser Advisor Group LLC purchased a new position in shares of CubeSmart during the 3rd quarter worth approximately $28,000. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 568 shares in the last quarter. Essential Partners LLC grew its holdings 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 acquiring an additional 779 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of CubeSmart during the 4th quarter worth $43,000. Finally, SJS Investment Consulting Inc. purchased a new position in shares of CubeSmart in the 1st quarter valued at about $42,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CUBE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CubeSmart in a research note on Wednesday, July 15th. Raymond James Financial started coverage on CubeSmart in a research report on Wednesday, July 15th. They set an "outperform" rating and a $44.00 target price on the stock. Wells Fargo & Company raised their price target on CubeSmart from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, July 24th. Mizuho boosted their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $47.00 price objective on shares of CubeSmart in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $43.55.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $40.04 on Monday. The business's fifty day moving average price is $41.07 and its two-hundred day moving average price is $39.95. The stock has a market cap of $9.02 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 6.58 and a beta of 1.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07. CubeSmart has a one year low of $35.09 and a one year high of $43.26.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.25). CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.The company had revenue of $286.49 million during the quarter, compared to analyst estimates of $281.12 million. During the same period last year, the firm earned $0.65 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. 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, analysts forecast that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.12 annualized dividend and a yield of 5.3%. CubeSmart's payout ratio 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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