Truist Financial Corp Sells 341,414 Shares of CubeSmart $CUBE

Truist Financial Corp reduced its position in shares of CubeSmart (NYSE:CUBE) by 91.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,588 shares of the real estate investment trust’s stock after selling 341,414 shares during the period. Truist Financial Corp’s holdings in CubeSmart were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. lifted its stake in shares of CubeSmart by 4.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,813,777 shares of the real estate investment trust’s stock worth $73,748,000 after acquiring an additional 75,855 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CubeSmart by 817.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 98,298 shares of the real estate investment trust’s stock worth $3,936,000 after acquiring an additional 87,589 shares during the period. Retirement Systems of Alabama lifted its stake in shares of CubeSmart by 5.4% in the third quarter. Retirement Systems of Alabama now owns 639,109 shares of the real estate investment trust’s stock worth $25,986,000 after acquiring an additional 32,697 shares during the period. Pacific Heights Asset Management LLC acquired a new position in shares of CubeSmart in the third quarter worth approximately $12,198,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of CubeSmart by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 5,340,869 shares of the real estate investment trust’s stock worth $217,162,000 after acquiring an additional 91,694 shares during the period. 97.61% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jeffrey P. Foster sold 23,148 shares of CubeSmart stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.02, for a total transaction of $949,530.96. Following the completion of the transaction, the insider directly owned 205,057 shares in the company, valued at $8,411,438.14. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CUBE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on CubeSmart from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Scotiabank raised CubeSmart to a “hold” rating in a research note on Thursday, March 19th. Barclays lifted their price objective on CubeSmart from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft lowered CubeSmart from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of CubeSmart in a research note on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.08.

CubeSmart Stock Down 3.4%

Shares of NYSE CUBE opened at $38.30 on Friday. The stock has a market capitalization of $8.67 billion, a P/E ratio of 26.97, a P/E/G ratio of 6.64 and a beta of 1.11. The company has a 50-day moving average price of $38.73 and a 200-day moving average price of $38.03. CubeSmart has a 1 year low of $35.09 and a 1 year high of $44.13. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.04 and a quick ratio of 0.04.

CubeSmart (NYSE:CUBE) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $281.93 million during the quarter, compared to analysts’ expectations of $275.25 million. CubeSmart had a net margin of 28.93% and a return on equity of 11.84%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. CubeSmart has set its FY 2026 guidance at 2.520-2.600 EPS and its Q2 2026 guidance at 0.620-0.640 EPS. On average, equities research analysts forecast that CubeSmart will post 2.57 EPS for the current fiscal year.

CubeSmart Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Wednesday, April 1st. CubeSmart’s dividend payout ratio (DPR) is currently 149.30%.

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.