VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in CubeSmart $CUBE

Key Points

• Virginia Retirement Systems ET Al has acquired a new position in CubeSmart, purchasing 156,000 shares valued at approximately $6.63 million, which represents about 0.07% ownership in the company.
• CubeSmart reported Q2 earnings of $0.65 per share, surpassing analysts' expectations of $0.63, with revenue totaling $282.30 million, a 6% increase year-over-year.
• The company declared a quarterly dividend of $0.52, resulting in an annualized yield of 4.9%, despite a high dividend payout ratio of 126.83%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CubeSmart (NYSE:CUBE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 156,000 shares of the real estate investment trust's stock, valued at approximately $6,630,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of CubeSmart as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of CubeSmart by 115.2% in the first quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 501 shares during the last quarter. Covestor Ltd raised its stake in shares of CubeSmart by 22.8% in the first quarter. Covestor Ltd now owns 1,575 shares of the real estate investment trust's stock worth $67,000 after purchasing an additional 292 shares during the last quarter. Signaturefd LLC raised its stake in shares of CubeSmart by 82.8% in the second quarter. Signaturefd LLC now owns 1,680 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 761 shares during the last quarter. IFP Advisors Inc raised its stake in shares of CubeSmart by 737.2% in the second quarter. IFP Advisors Inc now owns 1,532 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 1,349 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of CubeSmart by 446.2% in the first quarter. Farther Finance Advisors LLC now owns 1,797 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 1,468 shares during the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.

CubeSmart Stock Performance

NYSE:CUBE opened at $42.27 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.06 and a quick ratio of 0.06. The business has a fifty day simple moving average of $40.49 and a two-hundred day simple moving average of $41.02. CubeSmart has a 1 year low of $34.24 and a 1 year high of $50.69. The company has a market capitalization of $9.64 billion, a P/E ratio of 25.77, a P/E/G ratio of 9.37 and a beta of 0.96.

CubeSmart (NYSE:CUBE - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $282.30 million during the quarter, compared to the consensus estimate of $275.71 million. During the same period last year, the business posted $0.64 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, analysts expect that CubeSmart will post 2.64 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, October 1st. CubeSmart's dividend payout ratio (DPR) is currently 126.83%.

Analysts Set New Price Targets

CUBE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on CubeSmart and gave the stock a "buy" rating in a research note on Monday, October 13th. UBS Group decreased their price target on CubeSmart from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Wall Street Zen raised CubeSmart from a "sell" rating to a "hold" rating in a research report on Sunday, September 21st. Citigroup decreased their price target on CubeSmart from $45.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, August 25th. Finally, Barclays decreased their price target on CubeSmart from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.06.

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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