Legal & General Group Plc Makes New $47.85 Million Investment in CubeSmart $CUBE

Legal & General Group Plc acquired a new position in CubeSmart (NYSE:CUBE) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,203,190 shares of the real estate investment trust’s stock, valued at approximately $47,851,000. Legal & General Group Plc owned 0.53% of CubeSmart at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CUBE. BlackRock Inc. purchased a new position in CubeSmart in the second quarter valued at approximately $1,349,164,000. Norges Bank acquired a new stake in shares of CubeSmart in the fourth quarter worth $395,968,000. Bank of New York Mellon Corp purchased a new position in shares of CubeSmart in the 2nd quarter valued at $74,199,000. Millennium Management LLC lifted its holdings in shares of CubeSmart by 201.5% during the 4th quarter. Millennium Management LLC now owns 2,739,600 shares of the real estate investment trust’s stock valued at $98,763,000 after acquiring an additional 1,830,993 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in CubeSmart during the 2nd quarter worth $68,552,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CUBE shares. Mizuho raised their price objective on CubeSmart from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Truist Financial increased their target price on CubeSmart from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Barclays raised CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $46.00 in a research report on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, Raymond James Financial began coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They set an “outperform” rating and a $44.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.55.

CubeSmart Trading Up 0.2%

NYSE:CUBE opened at $40.04 on Friday. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 6.58 and a beta of 1.07. CubeSmart has a one year low of $35.09 and a one year high of $43.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.07 and a current ratio of 0.07. The business’s 50-day simple moving average is $41.07 and its 200 day simple moving average is $39.94.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data 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 net margin of 29.41% and a return on equity of 12.35%. The business had revenue of $286.49 million for the quarter, compared to analyst estimates of $281.12 million. During the same quarter last year, the business earned $0.65 EPS. CubeSmart’s revenue for the quarter 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. As a group, sell-side analysts predict 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 Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.3%. CubeSmart’s dividend payout ratio (DPR) 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.