VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.21 Million in CubeSmart $CUBE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CubeSmart (NYSE:CUBE) during the second quarter, Holdings Channel reports. The institutional investor acquired 55,606 shares of the real estate investment trust’s stock, valued at approximately $2,211,000.

Other hedge funds have also recently made changes to their positions in the company. Wiser Advisor Group LLC acquired a new stake in CubeSmart during the 3rd quarter worth about $28,000. Essential Partners LLC grew its stake in CubeSmart by 594.7% during the 1st quarter. Essential Partners LLC now owns 910 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 779 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 568 shares during the period. SJS Investment Consulting Inc. purchased a new position in shares of CubeSmart in the first quarter worth about $42,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of CubeSmart in the fourth quarter worth about $43,000. 97.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CUBE has been the topic of a number of recent research reports. UBS Group upped their target price on CubeSmart from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, July 15th. Wells Fargo & Company lifted their price objective on shares of CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Evercore set a $47.00 price objective on shares of CubeSmart in a report on Monday, July 6th. Finally, Barclays raised shares of CubeSmart from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $46.00 in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.45.

CubeSmart Stock Up 0.5%

CubeSmart stock opened at $39.08 on Friday. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 6.40 and a beta of 1.05. CubeSmart has a 52 week low of $35.09 and a 52 week high of $43.26. The business’s 50-day moving average price is $40.87 and its 200 day moving average price is $39.98. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.34.

CubeSmart (NYSE:CUBE) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The company had revenue of $286.49 million for the quarter, compared to analysts’ expectations of $281.12 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. The firm’s revenue 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 anticipate that CubeSmart will post 2.57 earnings per share for the current year.

CubeSmart Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, October 1st. CubeSmart’s payout ratio is 146.21%.

CubeSmart Profile

CubeSmart (NYSE:CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and develops self-storage facilities in the United States. Its facilities provide individuals and businesses with storage units in a range of sizes, along with related services such as tenant insurance and online rental and payment options.

In addition to managing its owned properties, CubeSmart provides third-party management services for self-storage facilities owned by other parties.