Strs Ohio Buys Shares of 382,900 CubeSmart $CUBE

Key Points

• Strs Ohio purchased 382,900 shares of CubeSmart (CUBE) valued at approximately $16.35 million during the first quarter, representing a 0.17% ownership stake in the company.
• CubeSmart's latest quarterly earnings report showed an EPS of $0.65, exceeding analyst expectations, and indicated a revenue increase of 6.0% year-over-year.
• The company announced a quarterly dividend of $0.52, yielding 5.0%, with a dividend payout ratio of 126.83%, scheduled for payment on October 15th.

Strs Ohio bought a new stake in CubeSmart (NYSE:CUBE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 382,900 shares of the real estate investment trust's stock, valued at approximately $16,354,000. Strs Ohio owned about 0.17% of CubeSmart as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its holdings in CubeSmart by 28.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,664,210 shares of the real estate investment trust's stock valued at $370,049,000 after purchasing an additional 1,937,055 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of CubeSmart by 8.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,834,955 shares of the real estate investment trust's stock valued at $291,922,000 after acquiring an additional 543,158 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of CubeSmart by 29.3% in the first quarter. JPMorgan Chase & Co. now owns 5,561,206 shares of the real estate investment trust's stock valued at $237,519,000 after acquiring an additional 1,261,746 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CubeSmart by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,065,101 shares of the real estate investment trust's stock valued at $212,886,000 after acquiring an additional 72,513 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of CubeSmart by 4.3% in the first quarter. Northern Trust Corp now owns 3,920,931 shares of the real estate investment trust's stock valued at $167,463,000 after acquiring an additional 162,068 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price objective on CubeSmart from $48.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, August 4th. Evercore ISI reduced their price objective on CubeSmart from $48.00 to $47.00 and set an "in-line" rating on the stock in a research report on Monday, August 4th. BMO Capital Markets upgraded CubeSmart from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $48.00 to $49.00 in a research report on Friday, June 20th. Citigroup reduced their price objective on CubeSmart from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, August 25th. Finally, Wall Street Zen downgraded CubeSmart from a "hold" rating to a "sell" rating in a research report on Saturday. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.20.

CubeSmart Stock Performance

CubeSmart stock opened at $41.23 on Friday. The stock's 50-day moving average is $40.69 and its 200-day moving average is $41.26. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 9.27 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. CubeSmart has a 12 month low of $34.24 and a 12 month high of $55.14.

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

CubeSmart Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is 126.83%.

CubeSmart Company 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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