OVERSEA CHINESE BANKING Corp Ltd Takes Position in CubeSmart $CUBE

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in CubeSmart (NYSE:CUBE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,915 shares of the real estate investment trust’s stock, valued at approximately $991,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in CubeSmart in the second quarter valued at approximately $1,349,164,000. Norges Bank bought a new stake in shares of CubeSmart during the fourth quarter valued at approximately $395,968,000. Bank of New York Mellon Corp acquired a new position in shares of CubeSmart during the second quarter worth approximately $74,199,000. Millennium Management LLC raised its position in shares of CubeSmart by 201.5% during the fourth quarter. Millennium Management LLC now owns 2,739,600 shares of the real estate investment trust’s stock worth $98,763,000 after purchasing an additional 1,830,993 shares during the period. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of CubeSmart in the 2nd quarter worth $68,552,000. 97.61% of the stock is owned by institutional investors and hedge funds.

CubeSmart Stock Down 0.6%

Shares of NYSE:CUBE opened at $40.95 on Friday. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 6.78 and a beta of 1.07. 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 has a 12-month low of $35.09 and a 12-month high of $43.26. The business’s 50 day moving average is $41.11 and its 200 day moving average is $39.86.

CubeSmart (NYSE:CUBE) last released its quarterly 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). CubeSmart had a net margin of 29.41% and a return on equity of 12.35%. The company had revenue of $286.49 million during the quarter, compared to analysts’ expectations of $281.12 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly 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. On average, sell-side analysts forecast that CubeSmart will post 2.57 earnings per share for the current fiscal 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 paid a $0.53 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. CubeSmart’s dividend payout ratio is presently 146.21%.

Analyst Ratings Changes

CUBE has been the subject of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of CubeSmart in a research note on Tuesday, August 4th. Wells Fargo & Company raised 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. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a report on Wednesday, July 15th. Raymond James Financial assumed coverage on shares of CubeSmart in a report on Wednesday, July 15th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, Barclays raised shares of CubeSmart from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $46.00 in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.50.

About CubeSmart

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.