Legal & General Group Plc Takes $47.85 Million Position in CubeSmart $CUBE

Legal & General Group Plc purchased a new position in shares of CubeSmart (NYSE:CUBE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,203,190 shares of the real estate investment trust’s stock, valued at approximately $47,851,000.

A number of other hedge funds have also bought and sold shares of the company. Ieq Capital LLC purchased a new position in CubeSmart during the second quarter valued at $9,966,000. Northwestern Mutual Wealth Management Co. raised its position in shares of CubeSmart by 2,806.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 228,407 shares of the real estate investment trust’s stock valued at $8,234,000 after buying an additional 220,549 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in shares of CubeSmart by 3.0% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,080,351 shares of the real estate investment trust’s stock valued at $38,947,000 after acquiring an additional 31,187 shares during the last quarter. M&T Bank Corp bought a new stake in CubeSmart during the fourth quarter worth approximately $1,036,000. Finally, GSA Capital Partners LLP bought a new stake in CubeSmart during the fourth quarter worth approximately $949,000. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CUBE shares. Raymond James Financial began coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 target price on the stock. UBS Group raised their price objective on shares of CubeSmart from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of CubeSmart in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a report on Wednesday, July 15th. Finally, Evercore set a $47.00 price objective on CubeSmart in a report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.55.

CubeSmart Trading Up 0.2%

Shares of CUBE opened at $40.04 on Friday. CubeSmart has a 1-year low of $35.09 and a 1-year high of $43.26. The company has a 50-day moving average of $41.07 and a 200 day moving average of $39.94. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 6.58 and a beta of 1.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.07 and a quick ratio of 0.07.

CubeSmart (NYSE:CUBE) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $286.49 million during the quarter, compared to the consensus estimate of $281.12 million. CubeSmart had a return on equity of 12.35% and a net margin of 29.41%.CubeSmart’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. 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, research analysts expect that CubeSmart will post 2.57 EPS for the current year.

CubeSmart Announces Dividend

The company also recently disclosed 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 dividend payout ratio is 146.21%.

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.