OLD National Bancorp IN Lowers Holdings in CubeSmart $CUBE

OLD National Bancorp IN lowered its position in shares of CubeSmart (NYSE:CUBE) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,701 shares of the real estate investment trust’s stock after selling 10,178 shares during the quarter. OLD National Bancorp IN’s holdings in CubeSmart were worth $5,512,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in CubeSmart by 7.4% during the first quarter. Bessemer Group Inc. now owns 3,721 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 255 shares in the last quarter. Covestor Ltd increased its position in CubeSmart by 22.8% during the 1st 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 period. UniSuper Management Pty Ltd raised its stake in shares of CubeSmart by 0.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 63,200 shares of the real estate investment trust’s stock worth $2,699,000 after buying an additional 300 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of CubeSmart by 6.2% in the 1st quarter. Cerity Partners LLC now owns 5,375 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 316 shares during the period. Finally, CWM LLC boosted its stake in shares of CubeSmart by 23.5% in the first quarter. CWM LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

CubeSmart Price Performance

Shares of NYSE:CUBE opened at $40.70 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.06 and a current ratio of 0.06. The business’s fifty day moving average price is $40.30 and its two-hundred day moving average price is $41.08. The stock has a market cap of $9.28 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 9.06 and a beta of 0.96. CubeSmart has a one year low of $34.24 and a one year high of $51.85.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business 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 business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. 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 forecast that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.1%. CubeSmart’s payout ratio is 126.83%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CUBE. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research report on Saturday, September 27th. Citigroup cut their price target on shares of CubeSmart from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, August 25th. Barclays decreased their price objective on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, August 8th. Wall Street Zen raised shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Finally, UBS Group decreased their price target on CubeSmart from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CubeSmart has an average rating of “Hold” and a consensus target price of $46.06.

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.